457 Plans
Why should the rules that determine how and how much a person can save for retirement be different depending on whether the person works for a government entity, a nonprofit or a for-profit employer? People are people, and their retirement needs are not different based on what type of entity...
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Many people think that governmental section 457(b) plans and private sector 401(k) plans are the same because they both allow pre-tax deferrals of similar amounts of income—but they’re not.
Due to their differing origins, their rules and requirements are different, and it’s important not to...
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The IRS on Feb. 23 issued a proposed rule addressing the required minimum distribution (RMD) requirements for plans qualified under Code Section 401(a) that will update applicable regulations to reflect provisions of the SECURE Act.
The proposed rule will affect RMDs from qualified plans,...
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Running any employee benefit plan, and serving one, entails challenges—and that certainly is true of 403(b) and 457 plans. A Feb. 7 session of the 2022 NTSA Summit in Phoenix, AZ featured a panel discussion concerning some of them.
Panelists included John Adzema, President, National Associates,...
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Legislation supported by the American Retirement Association that would make permanent retirement plan tax relief measures following a presidentially declared disaster was introduced Dec. 9.
The bipartisan Disaster Retirement Savings Act, introduced by Reps. Mike Thompson (D-CA) and Mike Kelly (R...
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The rules and regulations governing distributions have changed in the last two years. In MarketBeat, John Iekel writes about a recent webcast, two experts discussed how some of the key rules concerning distributions have changed and what should be done under them.
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Open your calendar and reserve Feb. 6-8, 2022—for the 2022 NTSA Summit!
Our Summit is the only industry conference designed for 403(b) and 457(b) professionals. And it will include:
Six general sessions, an array of workshops, and continuing education (CE) credit.
The Certified Retirement...
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Retirement assets in the United States grew in the second quarter of 2021, says a recently released report.
According to the Investment Company Institute (ICI), retirement assets comprised 33% of all household assets in the United States. At the end of the second quarter, U.S. retirement assets...
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Tech Talk addresses what happens to balances when a 457(b) plan is terminated.
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The 2021 NTSA Summit provided a unique opportunity for industry experts to provide their insights on issues relevant to the NTSA community. Following is a look at our news coverage of the Summit.
Education Market in Transformation
The education sector of the retirement plan market is in a period...
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Noting that it would add trillions of dollars in retirement savings and would help close the coverage gap, the American Retirement Association has offered its support for the retirement provisions contained in the Build Back Better Act, set to be considered by the House Ways and Means Committee...
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Tech Talk addresses whether distributions from 403(b) plans and governmental 457 plans to cover qualified birth or adoption are distributions.
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The IRS has updated the information it provides concerning written plan requirements for 457(b) deferred compensation plans.
Generally, for years beginning after Dec. 31, 2001, an eligible deferred compensation plan under Code Section 457(b) must meet written plan document requirements.
In its...
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There is a broad array of plans from which an employer and plan sponsor can choose. In a 2021 NTSA Summit workshop session, an industry expert offered an overview, with a special focus on 430(b) and 457 plans.
Nathan Glassey, Vice President, National Benefit Services, set the table by looking at...
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Have you registered for the NTSA Virtual Summit? If not, this week is your last chance! This year’s sessions will include:
The state of the retirement markets — hosted by Mr. 403(b)!
Using retirement funds to pay for living expenses during hardship.
How to attract, motivate, and retain...
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While market volatility certainly affected retirement savings in 2020, new research shows that participants saved more, account balances grew and plan sponsors remained steadfast.
“Reference Point,” T. Rowe Price’s annual benchmarking report, reveals that the overall average pretax deferral rate...
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Traditional approaches to finance and investment have had their day, said experts in a recent PSCA webinar, arguing that behavioral finance has changed the equation.
In “Investment Menu Design that Improves Retirement Readiness,” Matthew Gnabasik, Connie Mulligan and Neal Smith suggest that new...
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The options for retirement plans amongst governmental and tax-exempt employers are numerous. There is such a wide range of opportunities that it can be difficult to navigate when to use each of the different options and when to pair them with other available plans.
How do we help our plan...
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In this NTSA Virtual Summit workshop, we will discuss the similarities and differences between 403(b) and 457(b) plans. We will also cover what eligible employers must consider when offering both—as paired plans—to their employees. Specific discussions will include:
Who can offer these plans?...
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The American Retirement Association has offered its support for newly introduced legislation that seeks to help employees save for retirement as they repay their student loans.
The Retirement Parity for Student Loans Act (S. 1443) introduced April 29 by Senate Finance Committee Chairman Ron Wyden...
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