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 John Iekel12/29/2014 • 0 Comments

All disbursements from a retirement plan scheduled to be made at the same time are treated as a single distribution even if they are sent to multiple destinations, under a new rule that becomes mandatory as 2015 dawns.


By NTSA Net Staff12/22/2014 • 0 Comments

Last week we asked readers to vote on the best — and worst — aspects of ERISA and its progeny. Here’s what you told us. READ MORE

By John Iekel12/19/2014 • 0 Comments

Pension payments for state retirees can be withheld when income taxes are insufficient to cover them. This approach, taken by New Jersey Gov. Chris Christie (R), stands as the New Jersey Senate on Dec. 18 voted not to override Christie’s veto of a bill that would have required quarterly contributions to the state’s defined benefit plan.

By NTSA Net Staff12/17/2014 • 0 Comments

The IRS’ Advisory Committee on Tax Exempt and Government Entities is seeking input from 403(b) plan sponsors, vendors and providers on compliance problems. READ MORE

By John Iekel12/16/2014 • 0 Comments

It’s no secret that state pension plans are beset by obligations beyond their ability to meet. A new study by State Budget Solutions (SBS) is the latest to outline how serious the problem is, based on 2014 data. READ MORE

By John Iekel12/16/2014 • 0 Comments

What does the dawn of 2015 mean for 403(b) advisors? NTSA Net asked the 2014 NTSA Elite Advisors for their insights on what advisors and those who offer and administer 403(b)s may expect next year — and how they can be ready. READ MORE

By NTSA Net Staff12/15/2014 • 0 Comments

Suppose you have a client who is age is 59½, has not left the employer, and has money in an employer’s 403(b) plan; he would like to move it to the employer’s 457(b) plan. In this week’s Tech Talk, Ellie Lowder tells whether this kind of transfer can be made. READ MORE

By John Iekel12/15/2014 • 0 Comments

Easier to administer, not subject to an early withdrawal penalty tax, offering an opportunity for an advisor to make a living, especially in a small marketplace — what’s not to love about the 457 plan? Security Benefit execs Mark Turner and Thomas Granger discussed 457s in a Dec. 4 NTSA webcast, “457 Plans in the Public Sector: History, Evolution and Opportunities. READ MORE

By NTSA Net Staff12/15/2014 • 0 Comments

The saver's credit is one way to providing meaningful opportunity for employees to participate in a 403(b) plan. In this week’s MarketBeat, Ellie Lowder discusses how the saver’s tax credit works and provides a crib sheet of sorts from the IRS. READ MORE

By John Iekel12/12/2014 • 0 Comments

The IRS has made some key reminders available in Special Edition Tax Tip 2014-24 for holders of individual retirement accounts (IRAs). Advisors, as well as and employers that facilitate employees’ establishment of IRAs, may find this information useful to share with their clients and employees.

By John Iekel12/12/2014 • 0 Comments

The IRS in Notice 2014-77 has updated the 2014 Cumulative List of Changes in Plan Qualification Requirements. The list is primarily for single-employer individually designed DC plans and single-employer individually designed defined benefit plans that are in Cycle E to use when they submit determination letter applications for plans between Feb. 1, 2015 and Jan. 31, 2016. READ MORE

By NTSA Net Staff12/11/2014 • 0 Comments

Saving for retirement in an IRA or workplace savings plan is the top long-term financial goal, according to a new survey. But the survey also contains the sobering finding that financial resolutions for the new year are on the decline as 2015 approaches. READ MORE

By John Iekel12/11/2014 • 0 Comments

Michigan Gov. Rick Snyder (R) on Dec. 10 announced that Detroit is emerging from bankruptcy. This came two days after Detroit Emergency Manager Kevyn Orr issued his final order, which affirms changes made and agreed to regarding Detroit’s pension plan.

By John Iekel12/10/2014 • 0 Comments

New Year’s Eve is the deadline for most 2014 required minimum distributions to be made. The IRS issued that reminder in information release IR-2014-112. Generally, RMDs from 401(k), 403(b) and 457 plans as well as IRAs must be made by Dec. 31.


By NTSA Net Staff12/10/2014 • 0 Comments

Rollovers can be an important way to preserve retirement savings, and postpone paying taxes on distributions. The IRS has an updated rollover chart that can help in determining which kinds of rollovers can be made to which accounts.


By John Iekel12/5/2014 • 0 Comments

On Jan. 2, 2015, the IRS Tax Exempt and Government Entities (TE/GE) Division will transfer those duties to the IRS Office of Associate Chief Counsel (TE/GE), which then will take on technical responsibilities concerning qualified retirement plans and IRAs. READ MORE

By NTSA Net Staff12/4/2014 • 0 Comments

How are 403b loan defaults processed? In this week’s Tech Talk, Ellie Lowder tells us what happens after a participant defaults on a loan regarding the participant’s account, the outstanding loan, interest, reporting and more. READ MORE

By Ray Harmon12/4/2014 • 0 Comments

With time running out on its deadline for providing recommendations, a task force examining alternatives for a possible state-run IRA program in the Old Line State continued to debate the issues. READ MORE

By John Iekel12/3/2014 • 0 Comments

Kentucky and Tennessee share more than a long border — information about public pension plans in both states is hard to come by too. And that may not be changing any time soon. READ MORE

By Andrew Remo12/3/2014 • 0 Comments

The Illinois General Assembly has sent legislation to Gov. Pat Quinn (D) that would create the nation's first state-run automatic enrollment payroll deduction IRA program for private sector employers. READ MORE

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