403b Plans

Building a practice is always an important concern. But when a circumstance such as that with which retirement plan professionals must contend this year—namely, a pandemic—intervenes, that effort becomes more complicated. In a June 17 webinar, NTSA Past President Tamara Indianer, CFP®, AIF®, CRES... READ MORE

Not all 403(b) plans must file the Form 5500—but 403(b) plans that are covered by ERISA do. The deadline for calendar year 403(b) plans that are covered by ERISA is July 31—visible on the horizon. And one of the statistics that must be reported on the Form 5500 is the number of participants. There... READ MORE

Some employers are responding to pandemic-related economic stresses by suspending employer contributions to employees’ retirement plans and accounts. A recent blog entry notes that some employers are thinking about suspending required employee contributions and asks whether automatic enrollment may... READ MORE

Tech Talk addresses whether distributions can be made from a 403(b) to cover expenses related to an adoption or the birth of a child.   READ MORE

Does the Department of Labor’s fee transparency regulation cover tax-sheltered annuity programs that are ERISA-covered 403(b) plans?   DOL Field Assistance Bulletin No. 2012-02 says yes. Under Section 401 of ERISA, the regulation covers 403(b) plans established or maintained by tax-exempt... READ MORE

All public educational institution employers that sponsor a 403(b) plan must have a written plan that must contain certain mandatory provisions and may contain other optional provisions.   Employers must have adopted a valid 403(b) plan no later than Dec. 31, 2009, which conformed to the... READ MORE

Technically, it is the plan sponsor (or employer) who has the responsibility for the actual day-to-day administrative functions of the 403(b) plan, or for choosing the plan administrator, called a TPA (third party administrator).   Even with a TPA, the employer will always be the one that can be... READ MORE

The IRS has issued proposed regulations that provide rules for federal income tax withholding on certain periodic retirement and annuity payments. The proposed regs would implement changes Section 11041(c)(2)(G) of the Tax Cuts and Jobs Act (TCJA) made to Internal Revenue Code Section 3405(a)(4)... READ MORE

Both chambers of the New Jersey legislature are considering legislation that would exclude 403(b) and 457(b) deferrals from New Jersey state income tax.   In the Assembly, A4112 was introduced by Assemblyman Ronald Dancer (R-Cream Ridge) on May 7. It was referred to the Assembly Appropriations... READ MORE