Technical Competence

In a settlement agreement described as “miraculous” by the federal bankruptcy judge that approved it, and made possible because of a pension settlement and a “grand bargain,” the City of Detroit now begins its exit from bankruptcy. For Detroit’s Police and Fire Retirement System (PFRS) retirees,... READ MORE

Offering one employee benefit affects how another is offered, and the implementation of the Affordable Care Act is an example. In this week’s MarketBeat, Kevin Lurie discusses how that affects employers — something retirement plan administrators need to understand. READ MORE

We hear a lot about how well Americans are saving — or not — for their retirement. Legg Mason Global Asset Management has unveiled EZ IRA, a payroll deduction IRA program intended to provide a way to build that savings rate.“Hopefully — and I truly believe this — this is just the beginning.... READ MORE

According to the National Alliance for Public Charter Schools, there are 6,400 charter schools in 42 states, with 2.5 million students. Many NTSA members do include charter schools in their target market. In this week’s MarketBeat, Ellie Lowder discusses some unusual situations that may arise in... READ MORE

More than two and a half years after the city of Stockton, Calif. declared insolvency, Chief United States Bankruptcy Judge Christopher Klein on Oct. 30 confirmed the city’s proposal for exiting Chapter 9 bankruptcy.The city says it saved $2 billion through agreements with creditors, employee... READ MORE

Your retired client placed her name on a school district’s substitute teacher list. The district’s third party administrator declined the application for a required minimum distribution (RMD), stating that she is coded as an employee on the list. But she has not worked in the district this year. If... READ MORE

The IRS and Social Security Administration have issued their cost-of-living adjustments relevant to retirement benefits for 2015.   IRS Limits The IRS on Oct. 23 announced COLAs affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Some of the limits... READ MORE

Education funding has figured prominently in the Michigan gubernatorial race, says fiscal analyst James Hohman, but not for the reason one may expect. In a piece in the Port Huron Times Herald, Hohman, who is assistant director of fiscal policy at the Mackinac Center for Public Policy, argues that... READ MORE

A statistic for 403(b) sponsors to ponder: An IRS official says that when the agency audits 403(b) plans, it discovers issues 80% of the time. And the IRS is hiring still more staff to audit 403(b) and 457(b) plans. In this week’s MarketBeat, Linda Segal Blinn discusses the five issues the IRS most... READ MORE