Practice Management
In an effort to expand my 403(b) practice, a year or so ago I decided to create a virtual financial literacy library. I recorded myself presenting my most popular topics geared towards the K-12 marketplace. My goal at the start of this project was to simply get into more districts that were not in...
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Following is a checklist for amending a 403(b) plan for a public educational institution. The general steps to amend a 403(b) plan are:
1. Amend your written plan. Once the decision is made for what features you wish to amend:
Prepare your adoption agreement with the amendments to be made...
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In accordance with the NTSA Leadership Council’s commitment to support and provide information concerning business opportunities—especially in this time of challenges posed by the pandemic—the NTSA Advisor will be featuring a new series that will appear in each edition.
Especially as the new...
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In a July 30 NTSA webcast, ARA Director of Legislative Affairs Andrew Remo provided an overview of the rules affecting retirement plans that have been put in place as a result of the pandemic and the effects it has had on the economy and plan participants.
In “Pandemic Pandemonium: Navigating...
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In Segment II of the 15th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2020 Elite Advisor David Wolfe, CRES, of Educators Financial Services Advisors. They discuss Wolfe’s business model and marketing leads.
In Segment I, NTSA Past President Randy Aranowitz and...
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In MarketBeat, Nevin E. Adams, JD asks, if you think planning for retirement is complicated… how about planning a landing on the moon?
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After having decided to offer a plan, the first step is to adopt a written plan.
All 403(b) plans, except certain church plans that do not contain any retirement income accounts, must have a written program that must contain mandatory provisions and may contain other optional provisions.
...
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In Segment I of the 15th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2020 Elite Advisor David Wolfe, CRES, of Educators Financial Services Advisors. They discuss Wolfe’s business background.
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There is still a lot of 2020 left to go. But 2021 is fast approaching, and a July 22 Plan Sponsor Council of America (PSCA) webcast offered ideas on how to prepare for that.
In “Year-End Checklist: COVID-19 issues and Preparing for 2021,” three Winston & Strawn LLP attorneys—Ariane Andrade, an...
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New for 2021! We’re recognizing fruitful, innovative pandemic business responses by financial advisors.
Continuing for 2021! Past Elite Advisors, whose award is more than five (5) years ago, and who continue to be innovative, unique and profound in their leadership, practice management,...
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The Securities and Exchange Commission (SEC) on July 28 announced that it has reached a settlement with VALIC Financial Advisors (VFA) over failing to disclose payments to promote services to Florida educators.
The SEC charged VFA, a financial services vendor in nearly every school district in...
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For the very most part, you can’t offload or outsource your ERISA fiduciary responsibility.
ERISA has a couple of very specific exceptions through which you can limit—but not eliminate—your fiduciary obligations. One has to do with the specific decisions made by a qualified investment manager—...
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Following are some tips concerning distributions of benefits.
Prepare and maintain distribution notices and elections.
Provide distribution forms to participant, including the 402(f) notice for rollover information. The IRS provides language periodically for a 402(f) notice, also referred to...
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In Segment III of the 14th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2016 Elite Advisor and NTSA Past President Adam Pearce, CFP®, CRES CERTIFIED FINANCIAL PLANNER™, who is part of Lincoln Investment’s Phoenix AZ office. They discuss community service and what the...
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Tech Talk addresses how one identifies excess contributions.
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NTSA is always providing information and insights that will be valuable to its members! Following is information about NTSA webcasts.
Upcoming Webcast
NTSA Webcast: Pandemic Pandemonium—Navigating the new COVID-19 Retirement Plan Rules
Thursday, July 30, 2020
2:00 – 2:50 p.m. ET
...
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On May 21, the Department of Labor (DOL) finalized a new safe harbor for electronic disclosures. A July 9 Plan Sponsor Council of America (PSCA) webcast discussed the new safe harbor, the scope of the rules and what it all means.
Panelists in “The New Electronic Disclosure Rule Is Here!” included...
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In Segment II of the 14th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2016 Elite Advisor and NTSA Past President Adam Pearce, CFP®, CRES CERTIFIED FINANCIAL PLANNER™, who is part of Lincoln Investment’s Phoenix AZ office. They discuss Pearce’s business model,...
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Many plan sponsors seek the assistance of TPAs with the functions and responsibilities associated with running a retirement plan, but that does not absolve a plan sponsor from all responsibility. A recent blog entry argues that internal controls are key to fulfilling the duties plan sponsors can’t...
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A review of recent research suggests that many plan sponsors and providers are currently underestimating the power of digital design in helping participants make better retirement savings choices.
Appearing in the Harvard Business Review, “How Digital Design Drives User Behavior” by Shlomo...
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