IRS Issues
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
Portability of Roth 403(b), Roth 401(...
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TechTalk addresses the rules for 403(b) distributions after severance of employment.
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Phishing — sending scam emails — is still the most common way cybercriminals try to steal sensitive data. The IRS has issued some tips to help tax and other professionals from falling prey to such phishing expeditions.
In Tax Tip 2019-120, the IRS says that more than 90% of data thefts start from...
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Tech Talk addresses whether a 403(b) account holder who is not yet age 59½ can avoid the 10% penalty for a distribution even though it occurs before their birthday as long as it takes place in the year that they turn age 59½.
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Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
Portability permits the rollover of...
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A former recordkeeper employee has been sentenced to four years in prison for stealing funds from dormant participant accounts.
United States Attorney William M. McSwain has announced that Scott Capps, 48, of Coatesville, PA was sentenced to 48 months’ incarceration, three years’ supervised...
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MarketBeat features questions and answers presented in a webcast by Mike Smith, a Vice President at Voya Financial, on the nuts-and-bolts issues involved in missed deferrals and how to correct them.
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Tech Talk addresses whether a 403(b) account holder will be subject to a 10% penalty if he or she age 59½ or older takes a distribution from the 403(B).
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Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here .
If an employer’s plan permits,...
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Tech Talk addresses whether it is possible to take a 403(b) distribution if one is age 59½ or older.
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The Dog Days of August are here. But that does not necessarily mean doldrums — like the mercury, the heat is on. American Retirement Association Chief Government Affairs Officer Will Hansen in an Aug. 15 webinar provided a look at legislative and regulatory developments in Washington, DC and the...
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Tech Talk addresses whether it is possible to put unitized portfolios in a 403(b)7.
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Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
While it is not required under the...
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Editor’s Note: This is the second of a two-part series. Part 1, “Rollovers into the Plan,” is available here.
There remains confusion about when a rollover out of the plan may take place and whether rollovers are mandatory plan features. Following are important tips about them.
The plan must...
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When it comes to ERISA litigation, we often only get to hear one side of the story – the plaintiffs’. But one of the defendants in an excessive fee case is fighting back.
The plaintiffs in this case are five employees of the Massachusetts Institute of Technology (MIT) and participants in the MIT...
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While disputing allegations and denying liability, plan fiduciaries have announced the second largest monetary settlement to date regarding a university retirement plan.
This settlement – for $14,000,000 – involves the $4.3 billion Johns Hopkins University 403(b) Plan, a suit brought by the law...
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Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.
No amount containing a required...
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Tech Talk addresses what the “written plan” requirement is, what it means and does not mean.
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Tech Talk discusses what types of contributions can be made to a 403(b) plan.
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In MarketBeat, ERISA attorney Heather B. Abrigo argues that missing participants, and the problems they occasion, are becoming a more prominent problem for plan administrators and offers practical steps in handling them.
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