457 Plans
Suppose you have a client who contributes to a 403(b) and 457(b) and is over age 70½. Can he contribute to a Roth IRA? In Tech Talk, Ellie Lowder tells us.
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Those who are familiar with 457(b) plans know that they come in two separate and distinct “flavors” — governmental and private sector. In MarketBeat, Michael Webb discusses the similarities and differences between the flavors.
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Can a public school district exclude employees who work 30 or less hours per week from participation in their 457(b) plan, or is it forbidden to do so as it would be if the plan was a 403(b)? In Tech Talk, Ellie Lowder tells us.
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If you work with both 403(b) and 457(b) plans, it’s important to learn the key differences between 403(b) and 457(b) plans. In MarketBeat, Linda Segal Blinn offers a discussion of how they differ in several key respects.
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For purposes of calculating the 403(b) 15 year catch-up contribution opportunity, does one include all previous 403(b) and 457(b) contributions made with the employer, or just the previous 403(b) contribution? In Tech Talk, Ellie Lowder tell us.
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“We’re in a day in which a lot of employers are looking to layer on benefits,” says PenServ Plan Services President and NTSA Immediate Past President Sue Diehl, and now non-profit employers are looking to set up 457(b) plans like their governmental counterparts. Diehl made her remarks in the latest...
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Can hardship withdrawals be taken from both the contributions and earnings in a 457(b) account, or is the withdrawal limited to salary reduction contributions only? In Tech Talk, Ellie Lowder tell us.
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There’s not much time left in 2015, and that applies to more than just the calendar. It also applies to certain required minimum distributions (RMDs). The IRS issued a reminder in IR-2015-122 on Oct. 29 that those born before July 1, 1945 generally must receive payments from their IRAs by Dec. 31....
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A school district with a 457(b) plan changes the salary reduction amount to $0.00 for five employees in the same month the deferral agreements were signed. In Tech Talk, Ellie Lowder tells us if it can do so, or if it made a mistake.
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Contributions to a 457(b) plan can begin in the calendar month only if the salary reduction agreement is received on or before the first day of that month. But what happens if in the case of new employees? In Tech Talk, Ellie Lowder tells us whether the rules are different in such a circumstance.
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Guidelines for sharing participant data of 403(b) and governmental 457 plans provided by the SPARK Institute have been widely accepted and are used by the majority of plan vendors. In MarketBeat, Diane Capone discusses the updated standards and best practices.
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Do the universal availability rules which apply to elective deferral 403(b) plans also apply to 457(b) governmental plans? In Tech Talk, Ellie Lowder tells us.
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What are the rules regarding the timing of the special catch up provision for 457 plans? In Tech Talk, Ellie Lowder discusses the rules and how they apply to a specific scenario.
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Retirement plan participation is far from uniform in the Tar Heel State, especially when it comes to 403(b) plans, according to the National Bureau of Economic Research (NBER).A new NBER study, “Supplemental Plan Offerings and Retirement Saving Choices: An Analysis of North Carolina School...
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An employer with a 457(b) top hat plan would like to make matching contributions for the select group of management employees included in that plan. In Tech Talk, Ellie Lowder tells us if it can.
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Questions can arise concerning the definition of severance of employment, which can be an important issue to determine regarding whether pre-59½ 403(b) or pre-70½ 457(b) participants are eligible to make withdrawals from their accounts. In MarketBeat, Ellie Lowder digs deep into the issues that...
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Summer has begun, and for many parts of the United States, so has hurricane season. Residents and proprietors in areas at risk of a landfall — as well as inland areas that also can be affected — often hear exhortations to be prepared, just in case. The IRS has issued a reminder about the importance...
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The Treasury Department took a huge step into lifetime income when it issued regulations creating qualified longevity annuity contracts to be provided by 401(a) plans, 403(b) plans, 457(b) governmental plans and IRAs. In MarketBeat, Robert J. Toth discusses what QLACs do and how they work.
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IRS Revenue Procedure (Rev. Proc.) 2015-27 updated the Employee Plans Compliance Resolution System (EPCRS). On April 2, the IRS released Rev. Proc. 2015-28, outlining even more changes — this time, concerning autoenrollment. In MarketBeat, Michael Webb examines the autoenrollment changes to EPCRS...
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Financial advisors may find themselves discussing the adoption and implementation of top hat plans with one of the people who would most benefit from such a plan, says Ellie Lowder. In MarketBeat, she provides a discussion about the fundamentals of top hat plans and what interested financial...
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