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January 5th, 2016 |
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ASK THE EXPERTS
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| “I am commencing the process of reviewing the 2014 Form 5500 for our calendar-year ERISA 403(b) plan. I noticed that the fees listed in Schedule C are lower than what I calculate plan expenses to be based on the service provider disclosures that are delivered to us, as well as other documentation. Shouldn’t these figures reconcile?”
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| Court Refuses to Apply New Test for Top Hat PlansA former employee of a Pennsylvania non-profit cannot rely on the Employee Retirement Income Security Act (ERISA) for benefit protections as the plan in which he participated is a “top hat” plan, a court found.Read more > | Catholic Health Initiatives Wins Church Plan Challenge U.S. District Judge Robert E. Blackburn with the U.S. District Court for the District of Colorado has found that Catholic Health Initiatives (CHI) is a “church” for purposes of the Employee Retirement Income Security Act’s (ERISA’s) church-plan exemption.Read more > | Church Plan Legislation Finally Gets PassedNewly passed legislation addresses controlled group rules, grandfathered defined benefit (DB) plans, automatic enrollment in church defined contribution (DC) plans, transfers between 403(b) and 401(a) plans, and investing in collective trusts.Read more > | ICMA-RC Enhances WebsiteICMA-RC, provider of retirement plans for public-sector employees, recently launched its redesigned website. The enhancements include additional tools to help educate participants about saving for retirement.Read more > | Can SPDs Be Provided for Church Plans? “I recently commenced employment at a church plan sponsor, and noticed that a Summary Plan Description (SPD) is not provided to participants in our 403(b) retirement plan. Is an SPD not required for church plans? Can an SPD be provided?”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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