Ask the Experts

“I recently started working with a religious entity that sponsors a 457(b) plan. I thought that churches couldn’t sponsor 457(b) plans? Am I incorrect?”

“We are a 501(c)(3) organization that encountered a year-end retirement plan issue that is new to us; hopefully it is not new to the Experts!

“We are a large controlled group with some entities eligible to sponsor a 403(b) plan, and some not.

“I noticed in a recent Ask the Experts column you mentioned a special ‘includible compensation’ definition that was unique to 403(b) plans.

“Do the Experts have a preference between payroll deduction or automatic checking account deductions (ACH) for loan repayments?”

“Our recordkeeper-provided documents for our 403(b) plan states that we should be using a ‘3401(a)’ definition of compensation.

“Our hospital sponsors a large Employee Retirement Income Security Act (ERISA) 403(b) plan.

“I work for a large health care organization that encompasses several subsidiaries that counsel has determined are part of the same controlled group.

“I just discovered that our CEO exceeded the Internal Revenue Service (IRS) 402(g) elective deferral limit to our 403(b) plan by a few hundred dollars.

“As 2016 comes to a close, are there any year-end retirement plan action items that warrant special attention?”

“I have a retiring employee who is eligible to receive a  significant cash payout of unused sick/vacation time shortly after she retires.

“I am a participant in a 403(b) plan.

“We are a private tax-exempt hospital that sponsors a 401(a) and a 403(b) plan, both of which are subject to the Employee Retirement Income Security Act (ERISA).

“I noticed that, though the elective deferral limits for retirement plans did not increase for 2017, the 415 dollar limit on combined employer/employee contributions did , from $53,000...