(b)lines Ask the Experts – What Is a Retirement Income Account?
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Tag: 403(b) plans
Yale Changes 403(b) Plan Investment Options
A university spokesperson told Yale News that the changes to the retirement plan were not in response to ongoing litigation.
Financial Professionals Improve Retirement Results for K-12 Educators
The median account balance for K-12 educators surveyed who work with a financial professional is $40,000 versus $21,000 for those who do not work with a financial professional, and 88% are confident in having a plan for retirement in place.
(b)lines Ask the Experts – Requiring Participants to Take Loans Prior to Hardships
“I understand that under the new proposed hardship regulations a participant will no longer be required to take all available loans from the retirement plans that we sponsor.
IRS Provides Do-Over for 403(b) Plans Not Following Once-In-Always-In Condition
Industry comment letters argued that many 403(b) plan sponsors were unaware of the rule that once a part-time employee is eligible to make elective deferrals, he cannot be excluded from the plan in subsequent years.
Duke University 403(b) Plan Lawsuits Reportedly Settled
The docket reports for two lawsuits filed against the university say counsel for the plaintiffs and counsel for the university have reported the cases settled.
(b)lines Ask the Experts – Defining ‘Severance of Employment’ for 403(b) Plan Distributions
“Certain distributions from our retirement program may only be made in the event to ‘severance from employment.’
K-12 403(b) Recordkeeping Requires a Number of Players
K-12 public school 403(b) plans haven’t changed as much as plans in other 403(b) market segments—mostly keeping the multiple-provider model—so they require unique recordkeeping solutions.
(b)lines Ask the Experts – 403(b) Treatment of Payment to Employee After Retirement
“I work with a plan sponsor at a private high school.
Study Finds Link Between Lower Participation and Fewer Choices in K-12 403(b) Plans
Research published by NTSA also finds a 203% increase in average contribution rates among plans providing access to 15 or more providers compared to plans with only one provider.
(b)lines Ask the Experts – Suspending Mandatory 403(b) Contributions After a Hardship Withdrawal
“Our plan is a 403(b) plan that has elective deferrals AND a mandatory employee contribution that is a condition of employment and thus is excluded from the 402(g) limit on elective deferrals.
IRS Proposes Amendments to Hardship Withdrawal Regulations
If the proposed rules are finalized, there would be no more suspension of deferrals after a hardship withdrawal or requirement to take a loan before one.
(b)lines Ask the Experts –Limits When Contributing to Both For-Profit and Nonprofit Retirement Plans
“What are the combined limits for someone whose employer has both a nonprofit and affiliated for-profit organization, where the individual works for both and participates in retirement plans sponsored by both organizations?”
(b)lines Ask the Experts – Turning Salary Into Employer Contributions When Limits Are Met
“One of our employees, who consistently defers the maximum to both our 403(b) retirement plan and 457(b) deferred compensation plans, wants to contribute additional funds to the plan and came to me with a proposal.
Health Care Provider Accused of Excessive Fees in 403(b) and 401(k) Plans
A lawsuit alleges that the defendants failed to take advantage of the plans' bargaining power by only offering actively managed retail mutual funds as investment options.
(b)lines Ask the Experts – Paying for Retirement Incentives by Reducing 403(b) Contributions
“I work with a higher education institution that is attempting to incentivize some of our faculty who have reached traditional retirement age to actually retire.
403(b)s Show Improvement in Use of Considered Best Practices
More are using automatic plan features, fiduciary advisers and investment policy statements, PSCA finds.
403(b) and 457(b) Plan Recordkeeper Enhances Platform
IPX is a modernization of traditional recordkeeping platforms that serve plans with multiple providers.
(b)lines Ask the Experts – Annuity General Accounts Versus Separate Accounts
“I work for a plan sponsor that maintains a 403(b) plan with annuity contracts.
(b)lines Ask the Experts – Can Tribal Governments Sponsor 403(b)s?
“I was recently hired to work with an entity that is a Native American Tribal Government. Can it sponsor a 403(b) plan?”