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August 23rd, 2016 |
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ASK THE EXPERTS
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| Attorneys point out distinctions between 403(b)s and 401(k)s, and lessons 403(b) plan sponsors can learn from recent lawsuits.Read more > |
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Voya Hires Leader of Operations for Retirement BusinessVoya Financial has hired Miles Edwards as its senior vice president and leader of operations for its retirement business. In his new role, Edwards will be responsible for all functions supporting Voya’s corporate and tax-exempt markets retirement plan segments.Read more > | Ask the Experts – Excluding Temporary Employees“I work with a 501(c)(3) tax-exempt that sponsors a 403(b) plan. The entity employs a large number of temporary workers since the entity engages in a lot of project-related work for which it receives specific funding. The workers in question generally lose their jobs in six months when the project is over, though of course they can work on projects in the future. The work is full-time, so the “normally works less than 20 hours per week “exemption form the universal availability requirement would not work (the vast majority of such employees are expected to work more than 1,000 hours). Is there any way to exclude these employees from the right to make elective deferrals to the 403(b)? These employees are generally offsite and it is thus difficult to communicate with them regarding their right to make elective deferrals to the plan.”Read more > | | David Levine and David Powell, with Groom Law Group, and Michael A. Webb, vice president, Retirement Plan Services, Cammack Retirement Group, will field your questions concerning 403(b) plans and regulations. Send them to rmoore@assetinternational.com with Subject: Ask the Experts. Answers may be printed in future (b)lines. This feature is to provide general information only, does not constitute legal advice, and cannot be used or substituted for legal or tax advice. |
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