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NTSA Net Staff

Retirees will need an average of $2.5 million to maintain the same quality of life in retirement, according to a recent Legg Mason survey.The majority (72%) of the 458 U.S. respondents to the firm’s Legg Mason Global Investment Survey — all affluent investors (defined as having at least $200,000 in... READ MORE
The formal roll out of the latest iteration of the fiduciary regs appears to be imminent, and it has generated plenty of attention. In this week’s MarketBeat, Nevin Adams discusses the letter two members of the U.S. House of Representatives who seek details sent to the DOL. READ MORE
The Indiana Senate is considering legislation that would allow Hoosier State public sector employers, and their employees, to participate in a public employees’ defined contribution plan. The House passed HB 1481 on Feb. 25.The measure provides that a political subdivision of Indiana that... READ MORE
The IRS on March 4 announced that it has revised publications concerning aspects of IRA administration and taxation of IRAs. The IRS intends these publications to help businesses and individuals understand how to figure depreciation as well as pension options. The publications are: Publication 4587... READ MORE
Public pension plans had a good month in February, according to BNY Mellon Investment and Strategy Group (ISSG). Public plans’ robust month was attributable to their allocations to high-yield fixed income and U.S. large cap equities, ISSG says.February saw the biggest monthly improvement in the... READ MORE
The IRS changed the 403(b) world with the regs it issued eight years ago, but Robert Toth says there still are circumstances with no easy solutions. In this week’s MarketBeat, he argues that addressing some of the more intractable daily 403(b) problems requires dealing with “small amounts” in... READ MORE
It’s no longer just states that are looking at the notion of expanding private sector retirement plan coverage. New York City Public Advocate Letitia James on Feb. 26 introduced legislation creating a commission of experts to study the establishment of a pension fund for private sector workers... READ MORE
The IRS on Feb. 26 announced that it has updated user fees as well as the addresses to which applications for approval of pre-approved 403(b) plans are to be sent. The new information is contained in Revenue Procedure (Rev. Proc.) 2015-22.Rev. Proc. 2015-22 addresses omissions in previous guidance... READ MORE
Can 403(b) pay deferrals to a former employee be taken from the compensation he or she receives for unused leave? In this week’s Tech Talk, Ellie Lowder tells us that they can, but that there are conditions that must be met. READ MORE
The recent White House budget proposal sets aside $6.5 million in funding for the Department of Labor, along with waiver authority, to support state efforts to implement state-based automatic enrollment IRAs or 401(k)-type programs.Currently more than a dozen state legislatures are actively... READ MORE
In a characteristically brash move, New Jersey Gov. Chris Christie (R) announced a plan to restructure the state pension system just one day after a New Jersey judge said his plan to cut the state’s contributions to its pension system violates the state constitution.Christie’s fiscal year 2015... READ MORE
Both houses of the New Jersey legislature have now approved a bill that forbids investing New Jersey public employee pension funds in firms with investment managers that make donations to national political groups.Contracts between the New Jersey Division of Investment and firms and investment... READ MORE
It can be a challenge to find quality reference materials concerning the 403(b) and 457(b) market as those serving other kinds of retirement pans. But a freshly updated reference is now available! In this week’s MarketBeat, Michael Webb introduces The Source: 403(b) and 457(b) Plans, which he calls... READ MORE
New Jersey Gov. Chris Christie (R) suffered a setback Feb. 23 in his plan to reduce the state’s contributions to the state pension system. New Jersey Superior Court Judge Mary Jacobson said that the plan is unconstitutional.Christie’s administration planned to slash cut $1.57 billion more from the... READ MORE
More divides private and public employees than the kind of employer for which they work — what kind of retirement plan is available to them, and how many assets are available in each kind, varies as well. Pensions & Investments reports that the answer for each is the opposite of the other.By... READ MORE
The National Tax-deferred Savings Association (NTSA) has issued a call for presentations and presenters at the 2015 NTSA 403(b) Summit.As part of the redefined 403(b) Summit experience, NTSA members voted on key topics on which they’d like to be part of the program agenda. Now you can be part of... READ MORE
If a client has a 403(b) account in which no contributions have been made since 2003, does it qualify as a grandfathered account? And can the client self-certify? In this week’s Tech Talk, Ellie Lowder gives us the answers, and also addresses what happens if the client breaks the self-certification... READ MORE
The largest city in Florida and its Police and Fire Pension Fund have been mired in controversy for at least two years now, but the state legislature may help Jacksonville to resolve at least part of it.The Jacksonville Police and Fire Pension Fund has a $1.6 billion unfunded liability. The city... READ MORE
Employees of the Windy City face the same circumstances as their counterparts who work for the government of their state: a pension system with huge funding liabilities. Chicago is third among U.S. cities in population, but it may be first in pension fund shortfall.Two of Chicago’s pension funds... READ MORE
Presenting a budget he said was “honest with the people of Illinois,” new Illinois Gov. Bruce Rauner (R) has proposed massive cuts to balance the state’s budget, with state pension plans bearing the brunt, The New York Times reports.“Our top priority for financial reform must be our pension system... READ MORE

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