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After significant deliberation with NTSA and other stakeholders over the last several months, the Texas Teachers Retirement System Board unanimously passed new 403(b) rules that will be fully effective on Oct. 1, 2019.
The final rule is a substantial improvement from the initial draft published in...
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On Oct. 18 Kentucky Gov. Matt Bevin (R), House Speaker Jeffrey Hoover (R), and Senate President Robert Stivers (R) held a joint press conference to announce a proposal that would close the state’s pension plan to teachers and move new hires to a defined contribution-only option going forward, among...
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What’s the quickest, most effective way to catch up on the trends, tools and tips for your 403(b) and 457 focused-practice?Look, we know you’re busy — and that it’s hard to find time away from your practice. That’s why we have taken the NTSA Summit and redesigned it to maximize your information and...
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Notifying 403(b) plan participants of annual additions limit rules under Internal Revenue Code Section 415(c) (415(c) annual additions limit) may not be just a best practice. In MarketBeat, Linda Segal Blinn writes that it may be an affirmative obligation in the employer’s 403(b) plan document.
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In Tech Talk, Susan Diehl tells us whether the changes that allow loan repayments to be postponed until Dec. 31, 2018 also stop accrual of loan interest.
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It’s said that reasonable minds can differ — and that turns out to be the case in another university 401(k) suit.
The plaintiffs in this case are five employees of Massachusetts Institute of Technology (MIT) and participants in the MIT Supplemental 401(k) Plan. The suit — filed a little more than...
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A recent blog post lists the biggest 403(b) providers and administrators and describes the circumstances under which a non-profit may be better served by considering a wider range of options.In “What Are the Top 403(b) Providers?” Alex Goldberg of the ForUsAll 401(k) Blog offers some information...
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Why take time away from your office to participate in the NTSA Summit? There are a lot of good reasons — here are three.It’s hard to find a good time to be out of the office — but if you’re a 403(b) or 457 retirement plan professional, your participation at the NTSA Summit can pay off in amazing...
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Internal Revenue Code Section 501(c)(3) organizations that sponsor an ERISA 403(b) plan may have to choose between terminating or freezing its 403(b) plan and sponsoring a 401(k) plan instead. In MarketBeat, Lynn Knight discusses a few advantages an ERISA 403(b) plan has compared to a 401(k) plan.
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Is it possible to aggregate across different 403(b) plans or does the aggregation rule only apply to multiple accounts within the same plan? In Tech Talk, Susan Diehl tells us.
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The Internal Revenue Code describes the tax-exempt organizations the federal tax rules recognize, but only employers that satisfy Section 501(c)(3) can sponsor a 403(b). In MarketBeat, Linda Segal Blinn discusses steps that will be helpful in determining whether a tax-exempt organization is a 501(c...
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Do 403(b) plans have to use a calendar year? In Tech Talk, Susan Diehl tell us.
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I am writing to share the news that the NTSA family suffered the loss of one of our own in last week’s mass murder in Las Vegas.
Steven R. Berger, 44, was among the 58 people killed at the Route 91 Harvest Music Festival in Las Vegas on Sunday, Oct. 1. Steve was a loving and devoted father,...
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Citing the rulings in a number of other university 403(b) suits, a federal district court has weighed in on the issues in a case involving Johns Hopkins University.The suit, brought against the plan fiduciaries of Johns Hopkins’ $4.3 billion plan (as of 2014) a little more than a year ago by the...
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During challenging economic times, some plan participants turned to plan loans to meet financial needs that they could not otherwise meet. That can create difficulties down the road for participants, but immediate complications for plan administrators.
A recent blog entry identifies three errors...
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What are the rules around non-ERISA 403(b) plans being protected from bankruptcy and how to they compare to IRAs and 401(K) plans? We discuss the matter in Tech Talk.
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There are substantial legal challenges related to offering to 403(b) plans the type of collective trust investments that are sold to 401(k) plans. In MarketBeat, Robert J. Toth points out the legal and regulatory requirements one must meet, and discusses one plan provider’s unique way of applying...
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The IRS on Sept. 18 updated the information on its webpage concerning pre-approved 403(b) plans and adding an addendum to information about effective dates. The page states that an adopting employer’s reliance on a pre-approved 403(b) plan’s opinion or advisory letter is not affected simply...
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The plan document for a 457(b) plan has not changed, but the TPA’s interpretation of the law has, and it says it will no longer allow 457(b) transfers/exchanges from one approved vendor to another within the same school district. In Tech Talk, Susan Diel tells us whether the TPA is correct.
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An excessive fee suit that had challenged the number of funds on the menu, the use of multiple recordkeepers, and the embrace of asset-based, rather than per-participant fees (among other things) has been dismissed.The suit, brought by participants in the $3.8 billion University of Pennsylvania...
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