Managing Your Practice
Public pension plans had a good month in February, according to BNY Mellon Investment and Strategy Group (ISSG). Public plans’ robust month was attributable to their allocations to high-yield fixed income and U.S. large cap equities, ISSG says.February saw the biggest monthly improvement in the...
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The IRS changed the 403(b) world with the regs it issued eight years ago, but Robert Toth says there still are circumstances with no easy solutions. In this week’s MarketBeat, he argues that addressing some of the more intractable daily 403(b) problems requires dealing with “small amounts” in...
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It’s no longer just states that are looking at the notion of expanding private sector retirement plan coverage. New York City Public Advocate Letitia James on Feb. 26 introduced legislation creating a commission of experts to study the establishment of a pension fund for private sector workers...
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The IRS on Feb. 26 announced that it has updated user fees as well as the addresses to which applications for approval of pre-approved 403(b) plans are to be sent. The new information is contained in Revenue Procedure (Rev. Proc.) 2015-22.Rev. Proc. 2015-22 addresses omissions in previous guidance...
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Can 403(b) pay deferrals to a former employee be taken from the compensation he or she receives for unused leave? In this week’s Tech Talk, Ellie Lowder tells us that they can, but that there are conditions that must be met.
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More divides private and public employees than the kind of employer for which they work — what kind of retirement plan is available to them, and how many assets are available in each kind, varies as well. Pensions & Investments reports that the answer for each is the opposite of the other.By...
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It may not be largest city in Ohio or even on the Ohio River, but Cincinnati can lay claim to something enormous — its unfunded pension liability, which amounts to more than $860 million. A deal to address it is close to being struck, but that could be months away.According to WCPO, the fund, which...
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It’s not unusual for questions to arise about options for the beneficiaries of 403(b) accounts, including non-spouse beneficiaries’ ability to “stretch” the distributions from the deceased’s account over the beneficiary’s lifetime. In this week’s MarketBeat, Ellie Lowder reviews the basics of...
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There are rules for how to handle inherited IRAs and 403(b)s, but that doesn’t mean questions don’t still arise about that. In this week’s Tech Talk, Ellie Lowder answers further questions regarding inherited IRAs and 403(b)s and the regulations that are the basis for how they are treated.
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If you work with ERISA plans, you will need to answer questions from employer clients about meeting the mandatory bonding requirements which must cover any employee handling plan assets. In this week’s MarketBeat, Ellie Lowder offers her ideas regarding questions an employer may ask you.
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The popularity of annuities featuring guaranteed minimum income benefit riders, or GMIBs, tends to surge following market downturns like in 2000 and 2008. Conversely, during market advances like we’re seeing today, buyer’s remorse can set in as annuitants eyeball alternative investments with much...
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A majority of Virginia registered voters age 45 and older support a state retirement savings plan, according to a recent survey. Part of the explanation for that may be another of AARP Virginia’s findings: that many of the Virginians coming closer to retirement age do not feel confident regarding...
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Kades-Margolis Corp. and Kades-Margolis Capital announced on Dec. 18 that the firms have joined U.S. Retirement Partners (USRP) as member firms. USRP specializes in employee benefit and retirement plans for public school systems and government offices, including 403(b)s and 457(b)s. USRP is the...
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New Years resolutions are still a few weeks away, but employers already have one regarding their retirement plans — improving communication. Most employers sponsoring defined contribution plans — including 403(b) plans — that Towers Watson spoke to in its 2014 North American Defined Contribution...
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Many 403(b) plan sponsors actively recognize their responsibility for encouraging participants to save for their retirement, but there is room for improvement, according to a new Plan Sponsor Council of America study, “Attitudes Towards Retirement Readiness in 403(b) Plans.” The report, which...
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In this, the year of the 40th anniversary of the Employee Retirement Income Security Act's (ERISA) enactment, many have weighed in on the best — and the worst — aspects of that law and its progeny. As 2014 draws to a close, we’re giving YOU the opportunity to weigh in on the best things about...
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Retirement assets of older Americans surged to a new high of $3.5 trillion last year, according to a new report. While retirement savings grew to one third (33.7%) of all household investable assets at $13.9 trillion, retirement assets of consumers age 65 to 74 surged from $2.3 trillion, and now...
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The Government Accountability Office (GAO) in a recent report has highlighted one of the ways public- and private-sector deferred benefit plans differ — valuation. “Pension Plan Valuation: Views on Using Multiple Measures to Offer a More Complete Financial Picture” outlines and discusses these...
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Fewer defined contribution plan participants changed their asset allocations in the first half of 2014 than did so in 2013, according to a new report by the Investment Company Institute (ICI). The report includes 403(b)s in its definition of DC plans, and it includes annuities held by 403(b)s in...
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If a church that sponsors a 403(b)(1) annuity and 403(b)(7) custodial account has a minister who is self-employed, can he participate in the church’s 403(b) plan? In this week’s Tech Talk, Ellie Lowder tells us.
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