403b Plans
The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation have released advance copies of the 2019 Form 5500 and the Form 5500-SF, as well as their schedules. They will be used for reporting information pertaining to the 2019...
READ MORE
Tech Talk addresses when plan-to-plan transfers between 403(b) plans are permitted.
READ MORE
Stephanie Avakian, Co-Director of the Securities and Exchange Commission (SEC) Division of Enforcement, outlined the agency’s examination of the administration of teacher retirement plans at a recent conference.
In keynote remarks she presented Nov. 5 at the 2019 SEC Regulation Outside the United...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) is proposing minor modifications to the Form 5500 Series for reporting about the 2020 plan year. The PBGC intends the changes to improve the accuracy of reported information.
The changes are relevant to 403(b) plans that are covered by Title I of...
READ MORE
Individuals who have more than one 403(b) account (or more than one IRA account) may satisfy the required minimum distribution (RMD) requirement for that plan type or retirement account type from any like accounts, however RMD calculations must be done separately for each account. This assumes that...
READ MORE
Tech Talk addresses whether an employer can contribute to a 403(b) plan for a former employee.
READ MORE
The IRS has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. The 2020 limits are contained in Notice 2019-59, released Nov. 6.
The limits for 2020 are as follows:
The limitation under Code Section 402(g)(1)...
READ MORE
Tech Talk addresses whether a 403(b) client who left the current employer at age 52 and is now age 55 can take withdrawals from the account and not incur the 10% penalty under the Age 55 Rule.
READ MORE
According to published reports, 403(b) sales practices at Valic are under scrutiny by the Securities and Exchange Commission.
Citing people briefed on the matter, the Wall Street Journal reports (subscription required) that the SEC is investigating sales and disclosure practices at Valic,...
READ MORE
The terms of an excessive fee settlement are not only the largest to date – once again, they’re about more than money.
The suit – brought by five employees of Massachusetts Institute of Technology (MIT) and participants in the MIT Supplemental 401(k) Plan – was filed back in August 2016 as one of...
READ MORE
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
Tip of the Week concerns factors...
READ MORE
In what was described as “an excellent result and in Class members’ best interests,” the parties in an excessive fee suit involving both a 401(k) and 403(b) plan have come to terms.
The suit involved the 401(k) and 403(b) plans of Allina Health System, which have nearly $2.3 billion in assets and...
READ MORE
Tech Talk addresses the that proof must be provided regarding a 403(b) account in the event of disability or death.
READ MORE
A federal judge has approved a settlement of another of the 403(b) university excessive fee suits.
Chief Judge Waverly D. Crenshaw Jr. of the U.S. District Court for the Middle District of Tennessee has signed off (Cassell v. Vanderbilt, M.D. Tenn., No. 3:16-cv-02086, 10/22/19) on the $14.5...
READ MORE
On Sept. 30, 2019, the IRS released Revenue Procedure (Rev. Proc.) 2019-39. The revenue procedure establishes a recurring remedial amendment system for individually designed and IRS pre-approved 403(b) plans. In addition, the guidance creates an annual Required Amendments List to be published by...
READ MORE
Speakers at an Oct. 22 workshop session at the ASPPA Annual Conference provided an early “deep dive” into the final hardship distribution rules issued last month.
Robert M. Richter, Retirement Education Counsel at the American Retirement Association, and Michael F. Smith, Vice President...
READ MORE
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
Tip of the Week concerns general...
READ MORE
Holdings in model portfolios may be shown on a participant statement, or, these models may be “unitized” and reported on statements with a daily net asset value. Tech Talk discusses the implications of unitization for 403(b) plans.
READ MORE
In MarketBeat, Robert Toth argues that one should consider the details of what it takes to be able to support providing 403(b) benefits with the annual elective deferral limit for participants with 15 years of service.
READ MORE
Special Pay Plans are tools within a 403(b) plan to help employees as they approach retirement.
How a Special Pay Program in a 403(b) Plan Works
A 403(b) plan which includes employer non-elective contributions in lieu of paying compensation (most commonly to replace unused sick leave and vacation...
READ MORE
Pages
Most Popular
