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.
Remember, an exchange can only be...
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Editor’s Note: This is Part I of a two-part series.
Marketplace Issues
The regulations effectively repealed Rev. Rul. 90-24 and significantly changed how and when 403(b) plan participants could change the investment of their 403(b) contracts/accounts. There has been much confusion as the...
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Tech Talk addresses when an employee can join a 403(b) plan.
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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.
The IRS has clearly indicated that no...
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As the restatement process for 403(b) plans continues on, a familiar “vestige” of certain past practices of a major vendor continues to bubble its way to the top. That “vestige” is the 403(b) “Money Purchase Plan.” In MarketBeat, Robert Toth discusses such arrangements.
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An employee of a k-12 public school who has a 403(b)(7) took out a loan from his account, which he has paid back. He now wants to take a second loan; in Tech Talk, Susan Diehl addresses how the limit for that second loan is determined.
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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.
The withdrawal restrictions...
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Tech Talk addresses who exactly can participate in a 403(b) plan.
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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.
The final 403(b) regulations created...
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In June 2009, the National Tax Deferred Accounts Association (NTSA) organized and sponsored the first NTSA 403(b) Compliance Resolution Summit (Summit) to address the pervasive service issues in the 403(b) marketplace. Several 403(b) product providers (vendors), third party administrators (TPAs),...
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More than 20 years after the last such overhaul, on July 1 President Trump signed into law bipartisan legislation to revamp the Internal Revenue Service. The newly enacted Taxpayer First Act of 2019 (H.R. 3151) overhauls the IRS’ operations and tax administration systems and implements new taxpayer...
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In Tech Talk, Susan Diehl tells us whether a 501(c)3 ministry that is setting up a new 403(b) plan and wants to give an annual discretionary contribution to the director of the center would be required to also contribute to all employees.
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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.
Following is a discussion of...
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Making it possible for participants to take a loan from their retirement accounts is a common plan feature. But it also is not unusual for mistakes to be made concerning those loans. A recent article, as well as the IRS, offer some suggestions regarding how to identify and fix them, as well as...
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Tech Talk discusses what universal availability is and what it requires.
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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.
Following is a discussion of tax-free...
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The House Ways & Means Committee has voted to extend a vast array of individual and corporate tax provisions, including special disaster-related rules for use of retirement funds.
Disaster Relief Assistance
The Committee late June 20 approved the Taxpayer Certainty and Disaster Tax Relief Act...
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The IRS on June 17 issued a third quarter update of its 2018-2019 Priority Guidance Plan. As in such previous such plans, retirement benefits are among the many areas in which the IRS plans to take action. In the update, the IRS also reports on progress in projects it has listed in the plan.
The ‘...
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The official hurricane season has just begun (the National Oceanic and Atmospheric Administration says it starts June 1). But we’ve already had a tropical system in the Atlantic (Andrea) — and that serves as a reminder that it can be helpful to a service provider and plan administrator to prepare…...
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Tech Talk suggests why the administrator of a plan that allows a one-time election to postpone a distribution would not approve it.
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