Technical Competence

Technical Competence covers the nuts and bolts of the 403(b) plan market, focusing on regulations at both the state and federal level, along with developments in public-employee plan management.


 

Technical Competence

Technical Competence

By NTSA Net Staff11/13/2014 • 0 Comments

The recent elections have had a dramatic effect on Capitol Hill. But there also have been some significant and surprising results on the state level as well — and could affect retirement plan-related legislation on regulation in some states. READ MORE

By Nevin Adams11/11/2014 • 0 Comments

In a settlement agreement described as “miraculous” by the federal bankruptcy judge that approved it, and made possible because of a pension settlement and a “grand bargain,” the City of Detroit now begins its exit from bankruptcy.
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By Nevin Adams11/11/2014 • 0 Comments

The IRS issued a clarification Nov. 10 on the application of the one-per-year limit on IRA rollovers. In Announcement 2014-32, the IRS said it had received comments about the “administrative challenges presented by the Bobrow interpretation of §408(d)(3)(B).”  READ MORE

By NTSA Net Staff11/7/2014 • 0 Comments

Offering one employee benefit affects how another is offered, and the implementation of the Affordable Care Act is an example. In this week’s MarketBeat, Kevin Lurie discusses how that affects employers — something retirement plan administrators need to understand.
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By NTSA Net Staff11/7/2014 • 0 Comments

You have a client that is a 501(c)(3) that is trying to find a way to reward its directors, who are receiving limited employer contributions to its 403(b) plan. In this week’s Tech Talk, Ellie Lowder tells us whether there is anything the employer can do regarding the directors. READ MORE

By John Iekel11/6/2014 • 0 Comments

We hear a lot about how well Americans are saving — or not — for their retirement. Legg Mason Global Asset Management has unveiled EZ IRA, a payroll deduction IRA program intended to provide a way to build that savings rate.
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By NTSA Net Staff10/31/2014 • 0 Comments

You have a client that has an annuity contract and has requested that it be cashed in due to a qualifying hardship. In this week’s Tech Talk, Ellie Lowder tells us whether the assets of the entire contract can be distributed. READ MORE

By NTSA Net Staff10/31/2014 • 0 Comments

According to the National Alliance for Public Charter Schools, there are 6,400 charter schools in 42 states; many NTSA members have charter schools in their target market. In this week’s MarketBeat, Ellie Lowder discusses some unusual situations that may arise in administering a 403(b) plan for a charter school.
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By John Iekel10/31/2014 • 0 Comments

Plan sponsors of 403(b)s offered by institutions of higher learning are changing them in a variety of ways, reports Cammack Retirement Group in their new report, the "Higher Education Retirement Plan Survey." READ MORE

By NTSA Net Staff10/31/2014 • 0 Comments

More than two and a half years after the city of Stockton, Calif. declared insolvency, Chief United States Bankruptcy Judge Christopher Klein on Oct. 30 confirmed the city’s proposal for exiting Chapter 9 bankruptcy.
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By NTSA Net Staff10/24/2014 • 0 Comments

IRS Notice 2014-54 clarifies the rules affecting rollover distributions consisting of both pretax and after-tax funds to more than one eligible retirement plan. In this week’s MarketBeat, Linda Segal Blinn discusses how this guidance applies to specific situations.
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By NTSA Net Staff10/24/2014 • 0 Comments

A retired teacher placed her name on a school district's substitute teacher list, but has not worked in the district this year; nonetheless, she is coded as an employee, so the district’s third party administrator declined her required minimum distribution application. But there could be consequences if she does not take the RMD — now what?
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By Nevin Adams10/24/2014 • 0 Comments

Plans interested in providing lifetime income alternatives via target-date funds that include deferred annuities got some much-needed clarity from the IRS on Oct. 24.

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By John Iekel10/23/2014 • 0 Comments

The IRS and Social Security Administration have issued their cost-of-living adjustments relevant to retirement benefits for 2015. READ MORE

By John Iekel10/22/2014 • 0 Comments

Discussion over public pensions is going on all over the United States. But two of them in Texas — involving city firemen — cast the matter in a different light: Houston and Fort Worth and their firefighter organizations are at odds over the pensions those cities provide their current and future fire and rescue personnel.

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By John Iekel10/22/2014 • 0 Comments

Education funding has figured prominently in the Michigan gubernatorial race, says Mackinac Center for Public Policy Assistant Director for Fiscal Policy James Hohman, because of the underfunding of the state school system’s retirement plan.
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By John Iekel10/21/2014 • 0 Comments

How do you build a successful practice? In the inaugural 403(b) Advisor Web Forum on Oct. 10, NTSA Executive Director Chris DeGrassi asked advisors Bruce Smith, Richard Dobson and Jerald Wozniak — all of whom are 2014 NTSA Elite Advisors — for their insights on aspects of how best to go about doing just that. READ MORE

By NTSA Net Staff10/21/2014 • 0 Comments

A statistic for 403(b) sponsors to ponder: An IRS official says that when the agency audits 403(b) plans, it discovers issues 80% of the time. And the IRS is hiring still more staff to audit 403(b) and 457(b) plans. In this week’s MarketBeat, Linda Segal Blinn discusses the five issues the IRS most often finds in such audits. READ MORE

By NTSA Net Staff10/21/2014 • 0 Comments

Can a school that is affiliated with a church use a 401(k) plan, and be a non-electing church? Or is that option only available with a 403(b)? In this week’s Tech Talk, Ellie Lowder discusses whether it is possible and how ERISA and the Internal Revenue Code apply in such a circumstance. READ MORE

By NTSA Net Staff10/21/2014 • 0 Comments

Connecticut State Comptroller Kevin Lembo (D) and State Treasurer Denise Nappier (D), who co-chair the Connecticut Retirement Security Board (CSRB) created earlier this year to come up with a plan, are looking for public comment on a market feasibility study on the feasibility of a state-sponsored retirement plan for all private sector employees. It is due to the legislature by Jan. 1, 2016.

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