403b Plans
NTSA is always busy working on your behalf and that of those whom you serve. Following is a look at what’s been going on in selected states, as well as NTSA’s assessment and what action we are taking. Pennsylvania Both the House of Representatives and Senate are in recess until Sept. 15. Before...
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An agent working with a public school superintendent to include retirement benefits in his individual contract reviews the wording the district plans to use. She sees that they have given the superintendent a choice of medical insurance OR an employer contribution to the 403(b) plan. In Tech Talk,...
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Forty-two states and the District of Columbia allow charter schools. They tend to treat their benefits packages in the same way as a typical for-profit employer and not in the way a traditional K-12 school does. In MarketBeat, Diane D. Capone of Lincoln Investment writes that it is important to...
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The federal government, a purveyor of regulations and legislation, has set before the 403(b) community a veritable blue plate special — and one with a long shelf life to boot. NTSA President Susan Diehl of PenServ Services, Inc., outlined what’s on that plate at NTSA’s 403(b) Summit in Washington,...
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Relying on the traditional methods for determining a client’s tolerance for risk can be risky in itself, according to Michael Kitces, speaking at the 2014 NTSA 403(b) Summit in Washington, D.C., on June 24. Kitces is a partner and director of research at the Pinnacle Advisory Group. Putting a...
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Simplified investment platforms are becoming more common for 403(b) plans, and target date funds are among the most widespread investment options, according to the Plan Sponsor Council of America’s sixth annual 403(b) plan survey. The Principal Financial Group sponsored the study. Aaron Friedman...
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Have you made a mistake in administering your 403(b) plan? Does this mistake put you at risk of IRS action? If so, you are not alone — not only in the sense that others have made mistakes, but also because the IRS has updated its 403(b) Plan Fix-It Guide, a resource that tells plan sponsors how to...
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The IRS is auditing 403(b) plans — especially in light of the changes made to the 403(b) regulations in the last few years. In the latest Market Beat, Kimberly A. Flett points out that with the right amount of planning and proper administration, plan sponsors can avoid audit pitfalls and provide...
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The latest Employee Plans Compliance Unit project — known as “Ineligible Employer — 403(b) Project Compliance Check” — targets employers that have received a notification of revocation of tax-exempt status from the IRS (known as a Notice CP120A) in 2010 (the first year following the new PPA filing...
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According to research by ING, plan participants who use TDFs are more confident about meeting their retirement goals. They also defer more and are less stressed. In an online survey of more than 1,000 plans conducted last September by ING (which will be known as Voya starting in May), 54 percent of...
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It’s now easier for plan sponsors and employers to participate in the 403(b) pre-approved plan program. April 14 was the effective date of IRS Revenue Procedure (Rev. Proc.) 2014-28. The new guidance modifies guidance the IRS issued last year, Rev. Proc. 2013-22, to make it easier for a person to...
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The IRS, in Notice 2014-19 and related FAQs, says clearly that retirement plans — including 403(b) plans — have to recognize same-gender spouses and spells out how. The notice and FAQs, which the IRS issued April 4, are a follow-up on Revenue Ruling (Rev. Rul.) 2013-17, which provided general...
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It will be easier for plan sponsors and employers to participate in the 403(b) pre-approved plan program beginning April 14. That’s the effective date IRS Revenue Procedure (Rev. Proc.) 2014-28. The new guidance modifies guidance the IRS issued last year, Rev. Proc. 2013-22, to make it easier for a...
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Sponsors of 403(b) plans are more apt to offer a broad range of services and options, according to a study of defined contribution (DC) plans The 2013 Plansponsor Defined Contribution Survey found that 403(b) plan sponsors in many ways are more generous than their other DC plan counterparts. The...
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In remarks at a recent conference on income inequality, Sen. Ron Wyden (D-Ore.), the incoming Chairman of the Senate Finance Committee, may have tipped his hand on how he will treat employer-provided retirement plans, advocating the simplification and consolidation of “the array” of current...
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Over the last 30 years we have seen unprecedented changes in retirement choices in the 403(b) marketplace. There have also been enhancements to help advisors communicate with clients and prospects. Are these changes helping or hurting you? How can you adapt your practice to utilize these...
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This article originally appeared in the Fall 2013 issue of 403(b) Advisor Magazine. To view a PDF version of this article, please click HERE. Gathering in the energy-filled Chicago Loop in June, 403(b) professionals from around the country networked, learned about timely industry initiatives and...
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