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October 6th, 2020
Information & Insights for the 403(b) Community
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Ask the Experts
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Can a 403(b) Be Added for HCE Deferrals to Help Pass Testing?
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“I work with a health care organization that sponsors a 401(k) plan, which usually fails the actual deferral percentage (ADP) and actual contribution percentage (ACP) tests due to highly compensated medical staff and administration. The sponsor would like to set-up a 403(b) plan in addition to its 401(k) plan to defer any excess contributions by highly-compensated employees to the 403(b) plan. Is this strategy allowable under ERISA and the Internal Revenue Code?”
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The Importance of Social Security Education for Participants
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According to the Social Security Administration’s website, Social Security will replace about 40% of an employee’s pre-retirement income after retirement, so it is an important part of retirement planning. To educate employees, plan sponsors must understand Social Security themselves. Join PLANSPONSOR and retirement industry experts during a webinar October 29 as they discuss: What plan sponsors need to know about Social Security; How plan sponsors can offer Social Security education to employees; and The importance of personalized Social Security planning for employees.
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Get Notified When Nominations Open
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Each fall, PLANSPONSOR opens nominations for our annual Plan Sponsor of the Year and Retirement Plan Adviser of the Year awards. The best place to learn when the nominations open for these or any other awards programs is via our daily NewsDash and PLANADVISERDash email newsletters. However, if you would like to receive an email notifying you when nominations are open, please provide your information.
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