403b Plans
An Oct. 18 session of the 2021 ASPPA Annual conference included a discussion of 403(b) plan terminations.
Addressing the SECURE Act, Stephen Forbes, President of Forbes Retirement Plan Consulting, and Melissa Terito, a Partner at Sentinel Pension, discussed plan terminations and upcoming IRS...
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The IRS is reminding employers that the annual contribution limit for their 403(b) plans may require information from employees who participate in a qualified 401 plan of another employer.
The Internal Revenue Code caps the total of employee contributions (other than the age 50+ catch-up),...
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The CalSavers Retirement Savings Board has issued a Notification of Proposed Emergency Regulation Action to readopt regulations that took effect earlier in 2021.
The Board adopted those emergency regulations to:
amend the default investment option;
reduce the minimum contribution amounts for...
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Tech Talk discusses what it means to adopt a 403(b) plan document.
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Noting that “the flawed complaint in this case flunks” ERISA’s pleading standards, the defendants in an excessive fee suit before the nation’s highest court say the case against them should be dismissed.
The Issue(s)
The issue that the plaintiffs—represented by the law firm of Schlichter Bogard...
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Tech Talk discusses optional features in 403(b) plans.
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Open your calendar and reserve Feb. 6-8, 2022—for the 2022 NTSA Summit!
Our Summit is the only industry conference designed for 403(b) and 457(b) professionals. And it will include:
Six general sessions, an array of workshops, and continuing education (CE) credit.
The Certified Retirement...
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Sometimes viewed as laggards in plan design, nonprofit employers are leading the way in at least two key aspects.
According to the Plan Sponsor Council of America’s annual 403(b) Plan Survey, more than half (53%) of 403(b) plans reported offering annuities as a distribution option that would...
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A recent survey of insurers highlights the criteria that a number of the nation’s leading fiduciary liability insurers identified as the biggest sources of fiduciary risk, writes Nevin E. Adams, JD, in MarketBeat. However, the report’s authors note that it was specifically focused on sources of...
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A federal judge has put a half dozen excessive fee suits on hold pending a decision by the U.S. Supreme Court in a case that ”will likely clarify the pleading requirements for ERISA breach of fiduciary claims in cases such as this…”
That was the determination of Judge William C. Griesbach...
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Tech Talk discusses what the IRS means by “written 403(b) plan.”
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Retirement assets in the United States grew in the second quarter of 2021, says a recently released report.
According to the Investment Company Institute (ICI), retirement assets comprised 33% of all household assets in the United States. At the end of the second quarter, U.S. retirement assets...
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Each generation experiences life through the prism of its own experiences—creating a unique frame of reference that can itself be a language barrier in communication.
Indeed, I have for years enjoyed checking out what was once called the Beloit College Mindset List (a couple of years back...
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The 2021 NTSA Summit provided a unique opportunity for industry experts to provide their insights on issues relevant to the NTSA community. Following is a look at our news coverage of the Summit.
Education Market in Transformation
The education sector of the retirement plan market is in a period...
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Editor’s Note: The House Ways and Means Committee recently approved funding provisions for the Build Back Better Act of 2021, including several retirement plan provisions (starting on page 665, and summarized here.)
That part of the bill is aimed at limiting the ability of high-income...
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Tech Talk addresses best practices one can follow when one is considering having multiple 403(b) providers.
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Understanding key compliance areas can help ensure your plan complies with 403(b) regulations.
Did you know that, technically, the IRS 403(b) regulations do not require an employer to adopt a 403(b) plan document? A public school or a 501(c)(3) nonprofit organization with a 403(b) plan must...
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Tech Talk discusses the benefits that may be derived from having multiple 403(b) providers, as opposed to just one.
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The House Ways and Means Committee this week will consider legislation requiring employers without employer-sponsored retirement plans to automatically enroll their employees in IRAs or 401(k)-type plans.
Committee Chairman Rep. Richard Neal (D-MA) announced Sept. 7 that the Committee will begin...
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Noting that it would add trillions of dollars in retirement savings and would help close the coverage gap, the American Retirement Association has offered its support for the retirement provisions contained in the Build Back Better Act, set to be considered by the House Ways and Means Committee...
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