Tag: 457 plans
An Exposure Draft proposes that if a Section 457 plan meets the definition of a pension plan in Government Accounting Standards Board (GASB) guidance, the appropriate GASB pension standards should be applied to the financial reporting for that plan.
“This title lays out the benefits of 457(b) plans and their pitfalls, and provides a convenient tool to research questions that will arise in plan design or administration,” say author S. Derrin Watson, J.D.
(b)lines Ask the Experts –Limits When Contributing to Both For-Profit and Nonprofit Retirement Plans
The plan to adopt a fee-leveling approach and rebate revenue sharing to participants comes as many institutions of higher learning face lawsuits challenging their 403(b) plan fees.
“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.