NTSA Net Staff
By NTSA Net Staff 10/4/2017
During challenging economic times, some plan participants turned to plan loans to meet financial needs that they could not otherwise meet. That can create difficulties down the road for participants, but immediate complications for plan administrators.
A recent blog entry identifies three errors...
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By NTSA Net Staff 10/2/2017
What are the rules around non-ERISA 403(b) plans being protected from bankruptcy and how to they compare to IRAs and 401(K) plans? We discuss the matter in Tech Talk.
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By NTSA Net Staff 9/26/2017
The IRS on Sept. 18 updated the information on its webpage concerning pre-approved 403(b) plans and adding an addendum to information about effective dates. The page states that an adopting employer’s reliance on a pre-approved 403(b) plan’s opinion or advisory letter is not affected simply...
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By NTSA Net Staff 9/25/2017
The plan document for a 457(b) plan has not changed, but the TPA’s interpretation of the law has, and it says it will no longer allow 457(b) transfers/exchanges from one approved vendor to another within the same school district. In Tech Talk, Susan Diel tells us whether the TPA is correct.
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By NTSA Net Staff 9/20/2017
Legislation that would repeal the DOL’s fiduciary rule would have a negligible effect on federal revenues, say multiple cost estimates.The Affordable Retirement Advice Act for Savers (H.R. 2823), introduced by Rep. David Roe (R-TN) on June 8, 2017, would repeal the fiduciary rule. The bill also...
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By NTSA Net Staff 9/18/2017
So what plans ARE covered by the fiduciary rule? MarketBeat features a blog post by Fred Reish (with help from some of his colleagues at Drinker Biddle) addresses that question, as well as which plans the rule does not cover.
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By NTSA Net Staff 9/18/2017
Is a self-employed minister in a 403(b) always entitled to the extended requirement beginning date at age 70½? Are there situations in which he or she can ever be considered a 5% owner? In Tech Talk, Susan Diehl tells us.
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By NTSA Net Staff 9/18/2017
The Department of Labor’s Employee Benefits Security Administration (EBSA) on Sept. 15 announced that it has extended the employee benefit plan compliance guidance and relief it issued for victims of Hurricane Harvey to those affected by Hurricane Irma. Verification procedures for plan loans and...
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By NTSA Net Staff 9/14/2017
The U.S. House on Sept. 14 passed a bill that contains a sentence that seeks to do away with the fiduciary regulation — with language that some might find eerily prophetic.H.R. 3354, which would fund government operations for fiscal year 2018, makes a brief, but powerful, statement about the...
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By NTSA Net Staff 9/13/2017
The American Retirement Association, parent organization of the NTSA, has weighed in on extending the special transition period under the Best Interest Contract Exemption (and related exemptions).Consistent with its earlier comments, the comment letter directed to the Labor Department supports a...
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By NTSA Net Staff 9/11/2017
There is renewed interest in health savings accounts (HSAs). And current trends appear to be paving the way for HSAs to become an important retirement savings tool. In MarketBeat, Nathan Glassey discusses what this means for 403(b) plans and how can they be integrated into a 403(b) offering.
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By NTSA Net Staff 9/8/2017
You have a client that reads IRS guidance as indicating that the relief the IRS provides for those in areas where the federal government has declared a disaster includes being able to postpone payments and grace periods of 403(b) and 457 loans. In Tech Talk, Susan Diehl tells us if that is correct.
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By NTSA Net Staff 9/6/2017
The IRS has taken action to address more than 700 erroneous extension request approvals it issued recently.Approximately 710 of the approvals the IRS Ogden office sent concerning Forms 5558 which had been filed concerning this year’s filing date contained erroneous information for the taxpayers who...
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By NTSA Net Staff 9/5/2017
On Sept. 1, the Texas Teacher Retirement System (TRS) Board reviewed the impact of the proposed 403(b) rule amendments on existing products available throughout the Texas School Districts.The impact analysis presentation included a review of fees, cost and penalties, timing, grandfathering,...
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By NTSA Net Staff 9/1/2017
Labor Secretary Alexander Acosta will meet Sept. 5 with representatives of companies that oppose the Obama administration’s fiduciary rule, according to a published report.Politico Pro, citing two sources familiar with the matter, says the meeting at the Labor Department will include...
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By NTSA Net Staff 9/1/2017
OregonSaves, the Oregon Retirement Savings Program, has invited additional Oregon employers to register for its pilot program.OregonSaves reports that it has invited more than 40 additional employers to do so. By June 20, 11 employers had registered. OregonSaves says that brings the total potential...
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By NTSA Net Staff 8/31/2017
Is federal tax withholding on required minimum distributions mandatory? Tech Talk tells us.
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By NTSA Net Staff 8/31/2017
Cybersecurity is a special concern for the financial industry, a lawyer who handles cybersecurity cases said recently. MarketBeat discusses how its importance goes well beyond the integrity of clients’ and plan participants’ sensitive information — it pervades inter-corporate business functions as...
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By NTSA Net Staff 8/29/2017
For beneficiaries of an inherited IRA, caution is necessary in order to avoid expensive tax consequences. In MarketBeat, Kimberly Flett addresses some relevant matters that merit specific focus.
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By NTSA Net Staff 8/29/2017
If the plan document says employees can exchange or transfer 457 funds from one approved provider to another, is that the final word? In Tech Talk, Susan Diehl tells us.
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