403b Plans
Episode 4
In this episode of the Wowcast, host Randy Aranowitz interviews Tony Schutte, a financial advisor and certified financial planner with EFS Advisors in Minnesota. Schutte discusses his personal and professional background, including how his parents' careers influenced his decision to...
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A federal court decision in an excessive fee case starts off by noting that “the late, renowned attorney-investor Charlie Munger once quipped that ‘the big money is not in the buying and selling, but in the waiting.’”
In case you were wondering, U.S. District Judge Nathaniel M. Gorton goes on to...
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Tech Talk discusses investment options for funds in 403(b) plans, which generally are more limited than they are for other qualified retirement plans: they may only be invested in annuity contracts or custodial accounts that hold mutual funds.
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Collective investment trusts (CITs) are a greater focus of attention and activity in the wake of SECURE 2.0, as a recent Congressional Research Service (CRS) report highlights.
In “Pensions and Individual Retirement Accounts (IRAs): Investment Issues,” the CRS provides an overview of pension...
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Can 403(b)s make a difference in your practice? Both Kelsey Mayo and Nathan Glassey believe so.
They led a workshop at the NAPA 401(k) Summit in Nashville, Tenn., “Understanding the 403(b) Plan Marketplace for 401(k) Practitioners,” which provided plan advisors with insights into the opportunities...
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Well, as they always say, better late than never. I hope you have been able to sleep at night during the last week without the March version of Nate’s Notes being released, but if you have not, never fear, they are here now.
The end of February and all of March were an extremely rewarding time!...
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As the Department of Labor defends its rule allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, legislation to restrict the use of ESG in making investment decisions—including for 403(b) and 457 plans—has been reintroduced in...
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Tech Talk addresses the amendments providers are required to make under Revenue Procedure 2023-37 to ensure that the form of their plans continues to satisfy qualification requirements or those of Internal Revenue Code Section 403(b).
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In a lengthy filing (109 pages), Yale University says the plaintiffs who lost their excessive fee case in a jury trial shouldn’t get a “do over.”
More specifically, the Yale fiduciary defendants in that case have filed the aforementioned brief stating that the Second Circuit need not concern...
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It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.
More precisely, it is Section 604 of the SECURE 2.0 Act that allows plan participants to elect to have any fully vested...
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The Illinois Senate may vote soon on a bill that would require school districts in the Land of Lincoln that offer their employees a 403(b) plan to enter into a contract with only one vendor in the plan.
On Feb. 14, 2024, Sen. Karina Villa (D-West Chicago) introduced language for SB2568 stating...
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Tech Talk discusses recurring remedial amendment cycles in light of Revenue Procedure 2023-37.
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Harkening back to the early days of the administration, President Biden’s fiscal year 2025 budget, once again, proposes significant tax increases on corporations and upper-income taxpayers, including a proposal to limit how much taxpayers are allowed to accumulate in their retirement plans. ...
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Tech Talk discusses what agencies and officials have a role in regulating and overseeing 403(b) plans or investment options provided to participants.
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[Updated: On Friday morning, the House passed H.R. 2799, Expanding Access to Capital Act of 2023, the larger bill that included the CITs in 403(b)s amendment, on a party line vote of 212 - 205. The bill will now go to the Senate. A quote from ARA CEO Brian Graff is added below.]
On March 7, the...
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Movement on the issue of allowing 403(b)s to use collective investment trusts (CIT) could happen soon with a possible House vote on the Retirement Fairness for Charities and Educational Institutions Act, an amendment to H.R. 2799, Expanding Access to Capital Act of 2023.
The bill had been...
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Tech Talk discusses what the expense ratio is and what it expresses.
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The Feb. 27 closing general session in San Diego at the 35th NTSA Summit aimed to foster better communication and collaboration between advisors and school business officials (SBO).
The session, featuring Bernie Heffernon, Divisional Vice President with Equitable, and James Rowan, Executive...
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“This discussion is really a cautionary tale for everybody in this room,” Brad Hope, Managing Partner with OMNI & TSACG Compliance Services, said at the outset of a Feb. 27 general session at the 35th NTSA Summit in San Diego.
It’s about knowing where the industry is going and remembering...
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“How do you wake up Lady Gaga? Poker Face.”
With that groan-inducing dad joke, the 35th Annual NTSA Summit, hosted by the National Tax-Deferred Savings Association, kicked off on Sunday in San Diego, Calif.
The opening general session, Legislative Landscapes: Federal & State Legislative...
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