“I work for a denominational church entity where ministers can exclude a portion of their compensation from taxable income as parsonage (housing) allowance.
Tag: 403(b) plans
“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?”
The website offers digital tools, videos, tutorials and more to help plan sponsors in the tax-exempt field raise the retirement readiness of their participants.
Generally, the overall effective date for 403(b) pre-approved plans are plan years beginning on or after January 1, 2010, but this raises issues for certain plan sponsors.
A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer enough arguments to support her claims.
“I read an Ask the Experts column from a few years ago which stated that, if we hired someone older than 70 ½, that they would need to take required minimum distributions from plans of prior employers but not from our plan.
The SEC says Envoy Securities received at least $24,893.26 in 12b-1 fees in connection with investments in higher-fee share classes.
“I read with great interest your recent Ask the Experts column about one-time irrevocable elections for 403(b) plans.
In a new publication, the IRS lists rules for 403(b) compliance and resources from the agency to help plan sponsors.