NTSA Net Staff
By NTSA Net Staff 7/6/2015
Efforts to stop or roll back the Department of Labor’s proposed fiduciary rule will continue, according to Steve Saxon of Groom Law Group. Saxon made his remarks at the Insured Retirement Institute’s recent Government Legal Regulatory Conference in Washington, D.C.According to zinsurance, Saxon...
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By NTSA Net Staff 7/6/2015
A new resource offering best practices for 403(b) non-ERISA plans is now available. Automatic Enrollment Guide: Best Practices for 403(b) Non-ERISA Plans, a comprehensive resource prepared by NTSA provides information relevant to all stages of providing this means of enrolling 403(b) participants....
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By NTSA Net Staff 7/1/2015
The earnings that public pension plans have realized, and their holdings, have changed little since the fourth quarter of 2014. That according to the U.S. Census Bureau in its quarterly survey of public pensions during the first quarter of 2015, which it released on June 25. The survey provides...
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By NTSA Net Staff 6/30/2015
Do you have participants who separated from service after 2007 and who have a deferred vested benefit under a 403(b) plan you sponsor? If so, do you have to report them on the Form 9855-SSA? The IRS says you do not. It explains that a plan sponsor is not required to report a separated...
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By NTSA Net Staff 6/30/2015
Questions can arise concerning the definition of severance of employment, which can be an important issue to determine regarding whether pre-59½ 403(b) or pre-70½ 457(b) participants are eligible to make withdrawals from their accounts. In MarketBeat, Ellie Lowder digs deep into the issues that...
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By NTSA Net Staff 6/30/2015
Is having language in administrators’ employment contracts sufficient legal authority for a school district to adopt and implement a 401(a) plan, or is an additional governing board resolution needed to establish legal authority for the plan? In Tech Talk, Ellie Lowder tells us.
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By NTSA Net Staff 6/29/2015
The Social Security Administration (SSA) has announced that it has adopted a final rule that revises its government pension offset (GPO) regulations. The rule will be effective on July 15. The final regulations are a revision of the language of a notice of proposed rulemaking (NPRM) the SSA issued...
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By NTSA Net Staff 6/29/2015
Nominations are now being accepted for the American Retirement Association’s 2016 Board of Directors. Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered. To view the nomination form,...
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By NTSA Net Staff 6/29/2015
The National Tax-deferred Savings Association (NTSA) has announced the winners of its prestigious NTSA Elite Advisor Award. It made the announcement at a June 29 session of its 2015 403(b) Summit in Nashville, Tenn. Established in 2014, the NTSA Elite Advisor Award recognizes the contributions of...
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By NTSA Net Staff 6/26/2015
Appropriations Committees on Capitol Hill — in the Senate and the House — have taken a shot at blocking the Labor Department’s fiduciary proposal by denying funding for the measure.Senate BillThe Senate Appropriations Committee on June 25 in a 16-14 vote approved a $153.2 billion measure that funds...
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By NTSA Net Staff 6/23/2015
Don’t underestimate the importance of a face-to-face relationship with a client.In a June NTSA 18 podcast, Jill Snyder, a registered representative with National Information Services and a 2014 NTSA Elite Advisor, emphasized how critical that is to advisors and the clients with whom they work.“The...
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By NTSA Net Staff 6/23/2015
The funded status of many public pension plans has improved, according to a recent report. But mitigating that good news is another study that suggests that lengthening lifespans will be a longer-term challenge for those plans. The Center for State and Local Government conducted the research and...
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By NTSA Net Staff 6/22/2015
You can add Oregon to the list of states that are poised to create a state-run retirement savings program — but there are a lot of details yet to be worked out. On June 16 the state Senate passed House Bill 2960 on a party-line vote (one Democrat voted with the Republicans in opposing the measure...
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By NTSA Net Staff 6/19/2015
The Code Section 403(b) regulations allow employers to terminate their 403(b) plans. In MarketBeat, Linda Segal Blinn argues that the devil may be in the details, and offers questions and answers to help employers that intend to terminate their 403(b) plans.
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By NTSA Net Staff 6/19/2015
If a participant is requesting a loan from their retirement plan for the maximum amount available, should vendor fees be taken into account from a TPA perspective? In Tech Talk, Ellie Lowder tells us.
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By NTSA Net Staff 6/16/2015
The Department of Labor’s Employee Benefit Security Administration has announced that it will hold public hearings on the fiduciary proposal on Aug. 10, 11 and 12 — and 13, if necessary. It also has extended the period for submitting comments on the proposed rule and exceptions to July 21.The...
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By NTSA Net Staff 6/16/2015
Like many other states, the Bay State faces budget challenges. But among the ways it has sought to ameliorate that, as well as cut the cost of paying pension benefits, is a novel approach — encouraging early retirement of certain state employees.Specifically, the program was open to employees age...
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By NTSA Net Staff 6/16/2015
The New Jersey Supreme Court may have ruled that Gov. Chris Christie (R) can cut $1.57 billion in contributions to the state’s public employee pension system, but that has not spelled an end to the public controversy over the system and how to address its problems. Debate erupted outside the state...
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By NTSA Net Staff 6/15/2015
To err is human. The IRS is not divine, but it does at least help 403(b) plan administrators and sponsors correct errors — and to that end has updated its 403(b) Plan Fix-It Guide. But the guide does more than provide a way to fix mistakes after the fact; it also includes information intended to...
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By NTSA Net Staff 6/15/2015
The U.S. Supreme Court's Tibble v. Edison International decision seems relatively mundane, and yet it has captured the attention of media outlets everywhere? In MarketBeat, Michael Webb examines this case and gets to the bottom of its implications for retirement plan sponsors and those who work...
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