It found cost savings would accrue to plan participants in the form of lower fees and greater investment growth over time, improving retirement security by up to 9%.
If a short plan year is created when a plan is amended, terminates or is newly adopted, proration of the Internal Revenue Code annual compensation dollar limit and limit on DC plan additions will be needed.
“I recently read your Ask the Experts column on the definition of ‘severance from employment’ for 403(b) and 401(a)/(k) plans. But what about 457(b) plans? Is the definition the same or different?”
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