457 Plans

The IRS in a private letter ruling (PLR) has said that a Section 457(b) plan may include an auto-enrollment feature. PLR 201743002, which the IRS issued on July 19, 2017, was only recently released. Plan Features The PLR pertains to a county’s deferred compensation plan that provides for an... READ MORE

You have a client that reads IRS guidance as indicating that the relief the IRS provides for those in areas where the federal government has declared a disaster includes being able to postpone payments and grace periods of 403(b) and 457 loans. In Tech Talk, Susan Diehl tells us if that is correct. READ MORE

If the plan document says employees can exchange or transfer 457 funds from one approved provider to another, is that the final word? In Tech Talk, Susan Diehl tells us. READ MORE

Suppose you have a client who deals with 457(b) and 403(b) annuity and custodial accounts. Your client began penalty-free transfer/exchanges last year from one approved vendor to another. In Tech Talk, Susan Diehl tells us whether he can do any more until he reaches a qualifying event. READ MORE

Employers offering 457 plans demonstrate a great degree of positivity about the plans and about their role in helping employees prepare for retirement, according to a recent study.In its recent survey of 457 plan sponsors, American Century Investments sought information about perceptions of their... READ MORE

The IRS has issued an updated version of its Form 14581-E, “Retirement Plan Coverage Compliance Self-Assessment For State and Local Government Entities.” The form is for use by systems that offer 403(b) and 457(b) plans, as well as other benefits.Form 14581 asks those offering 403(b) and 457(b)... READ MORE

Concerns about retirement and health care loom large for American workers and the U.S. Senate is reportedly close to its version of a health care reform bill. We need your help ASAP to tell Congress to make it easier for workers to manage their health and retirement savings.What’s the Issue?The tax... READ MORE

Suppose a client moves funds from an optional retirement program to his 457 plan and segregates his rollover money in the 457 plan. In Tech Talk, Susan Diehl tells us if he will be subject to a 10% penalty if he terminates employment at age 52 and pulls this segregated money out, as if it were a... READ MORE

House Ways & Means Committee Republicans have broken into tax reform working groups — and retirement is on the “menu.”Ways & Means Committee Republicans have organized into informal tax reform working groups, but “not in the traditional sense,” Tax Notes reports, citing committee chair... READ MORE