“Our firm sponsors an Employee Retirement Income Security Act (ERISA) 403(b) plan that has a two-year service requirement (100% vested after two years) in which the hours-counting method (1,000-hour requirement) is used.
Tag: 403(b) plans
Many participants do not know about the credit, the Transamerica Center for Retirement Studies found.
“I read in an Ask the Experts column that the Employee Retirement Income Security Act (ERISA) requires plan sponsors to retain plan documentation for at least six years, and, in many cases, much longer than that.
The plaintiffs claim plan fiduciaries repeatedly failed to monitor the share classes of mutual fund investments and to substitute less expensive share classes of mutual funds for more expensive ones.
The provider of retirement planning services to public education and nonprofit organizations says that the websites provide information on retirement for individuals at every career and life stage, as well as employers and advisers.
“I work for a firm that recently took over as third-party administrator (TPA) for the retirement plans of a large private tax-exempt 501(c)(3) hospital.
Allegations against Cammack LaRhette Advisors contend it gave “flawed advice” to plan fiduciaries regarding investments, which Cammack denies.
A federal judge had dismissed claims related to one of the university’s plans, but a new complaint, and a new plaintiff, bring back those claims.
While some claims were dismissed, others were moved forward.
On the motion for reconsideration of its previous choice to rule against summary dismissal, the court is quite skeptical. It has agreed, on the other hand, to stay the proceedings ahead of a 3rd U.S. Circuit Court of Appeals decision.
“I have received so many emails etc. on tax reform, including articles that conflict with each other, that I am on information overload! Should I be worried?”
“I work for a denominational church entity where ministers can exclude a portion of their compensation from taxable income as parsonage (housing) allowance.
“We are a 501(c)(3) private tax-exempt hospital that sponsors a 403(b) plan. We have an employee who has been here for many years whom we are forced to terminate since we are phasing out his entire department.
“We are a private tax-exempt organization that currently uses a recordkeeper-provided document for its 403(b) plan. The document consists of a generic base plan document, along with an adoption agreement that we can use to customize certain plan provisions.
“I work for a denominational church plan sponsor. Our plan permits contract exchanges (we have some inactive vendors in the plan to which we permit transfers to the active vendor), but not plan-to-plan transfers.
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
“Do the Experts have any Treats for us this Halloween, or only Tricks?”
“How do we determine which expenses are appropriate to be reimbursed from plan assets, and which expenses should not be reimbursed?”
“As we are preparing to finalize our 2016 Form 5500s in time for the extended deadline, a colleague of mine has stated that there are some questions on the form that it would appear that we should answer, but that the Internal Revenue Service (IRS) has actually suggested we skip. That sounds bizarre to me; is that possible?”
“I am new to the 403(b) world, having come from the 401(k) arena. I am quite familiar with mutual funds, but can the Experts explain what exactly is an annuity contract?”