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403b Plans

The IRS on Aug. 3 announced in Notice 2022-33 that it is extending the deadline for amending a retirement plan to reflect the provisions of Section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Section 2203 concerns a waiver of required minimum distributions (RMDs). ... READ MORE
Tech Talk discusses the pre-approved 403(b) plan procedures the IRS sets in Revenue Procedure (Rev. Proc.) 2021-37. READ MORE
Tech Talk provides plan document tips for 403(b) individually designed plans. READ MORE
The New York-based firm has agreed to settle alleged fraud charges brought by the Securities and Exchange Commission concerning investor fees.  According to the SEC’s July 18 order, Equitable agreed to pay $50 million for providing account statements to about 1.4 million variable annuity investors... READ MORE
Editor’s Note: This is part of an ongoing series that provides a look at content available through the NTSA Advisor’s weekly MarketBeat feature, an archive of which is contained in the Industry Intel section of the NTSA website here. This installment concerns savings and income. Retirement Income... READ MORE
The fiduciaries of yet another university 403(b) plan have been targeted with litigation—and while the allegations are familiar, the plaintiff’s attorney is new. The suit—filed against both the fiduciaries (and those that appointed them) of the $1.9 billion Northeastern[1] University 403(b) plan... READ MORE
 A bill before the New Jersey legislature will require that there be multiple vendors for purposes of providing 403(b) plans to certain school districts. The legislation provides that a board of education of a school district with an enrollment of at least 1,000 students that offers a 403(b) plan... READ MORE
The Senate Finance Committee on June 17 released the Enhancing American Retirement Now (EARN) Act—its counterpart to the House-passed SECURE 2.0—a massive piece of legislation that includes a number of key provisions supported by the American Retirement Association.  In fact, the committee has... READ MORE
This weekend was, of course, Father’s Day—but my dad’s decision to retire was driven more by time than timing.  Like many of his generation, once he got to 65, it was time to “retire.” He didn’t have a pension (fortunately for him, my mother did), though he had Social Security, and savings in a... READ MORE
Tech Talk addresses what procedures a 403(b) plan sponsor’s internal controls should cover. READ MORE
Editor’s Note: This is part of an ongoing series that provides a look at content available through the NTSA Advisor’s weekly MarketBeat feature, an archive of which is contained in the Industry Intel section of the NTSA website here. This installment concerns serving clients and participants. ... READ MORE
“Retirement readiness is important for everybody.” This is a statement that didn’t make it to the searchable lists of universal truths, but should have.  The 403(b) plan regulations realized the benefits of inclusion a long time ago, providing that if any employee can elect to make elective... READ MORE
Tech Talk discusses what internal controls are and why they matter. READ MORE
Get a free copy of the nation’s leading benchmarking resource on 403(b) plans. Just get your plan sponsor clients to complete the survey—and they—and you—can get a free copy of the Plan Sponsor Council of America’s 2022 403(b) Plan Survey. It’s online at https://www.cvent.com/d/skqdxb.  READ MORE
The American Retirement Association (ARA) in a May 25 comment letter has made recommendations to the IRS concerning the proposed required minimum distributions (RMD) regulations issued in February 2022, including that the IRS delay the effective date of the regulations when they are in final form... READ MORE
Tech Talk addresses whether an employer can continue to make contributions on behalf of a deceased employee in a 403(b) plan. READ MORE
Where have you worked, for how long, and how much have you contributed to the 403(b) plan? These are all the questions that make up the puzzle pieces necessary to compute each participant’s available 403(b) catch-up. Participants in a 403(b) plan can make an additional contribution once they have... READ MORE
“Saving is the No. 1 priority,” says Robert Kaplan, the American Retirement Association’s Director of Technical Education. Kaplan made his comments during a recent webcast that highlighted tax credits and deductions relevant to retirement saving, as well as proposals intended to increase it.  ... READ MORE
While adopting a plan document is the first step in establishing and maintaining a 403(b), an employer's commitment to its internal controls is equally important. In its webpage “Retirement Plan Errors Eligible for Self-Correction,” the IRS reminds employers*, “The plan sponsor must have routinely... READ MORE
If you’re serious about supporting plans and workers in the non-profit sector you can’t afford to miss out on the inaugural NAPA/NTSA ERISA 403(b) Advisor Conference. This unique conference is the only industry event designed specifically for expert advisors in the ERISA 403(b) space. Topics... READ MORE

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