Making Sense of Retirement Plan Layers and Complexities
Important Update. On June 21, IRS announced the extension of the 8955-SSA deadline to January 17, 2011, for which no Form 58 extension will need to be filed. The announcement is here
The challenges continue for 403(b) plans, as the IRS and DOL continue to implement their plan level rules in the 403(b) space.
There are three key employer groups which utilize 403(b) plans: K-12; colleges and universities; and non-profit healthcare systems. Of the three, its is healthcare that seems to be most impacted by the new aggregation rules introduced with the 2007 403(b) regulations.
Not-for-profit hospital systems are typically corporations organized under the non-profit corporation rules of the…
The IRS’s Employer Plans Compliance Unit is in the process of issuing a 21 question questionnaire, Form 866a, to a sampling of colleges and universities, aimed at testing whether or not there is compliance with 403(b)’s "universal eligibility rule."
This inquiry is different than the 401(k) questionnaire that EPCU issued a while back, and…
Expanding EPCRS to include post-December 31, 2008 failures in a 403(b) plan.
Continue Reading First things first… kind of like the chicken and the egg!
The IRS issued its long awaited guidance on the termination of 403(b) plans, with Revenue Ruling 2011-7. TEGE was well attuned to the challenges of terminating 403(b) plans, and its staff moved quickly to address some of the basic issues related to this "newly found" ability, provided by the 403(b) regulations, to treat the…
This was modified 12/28 at 6:18 a.m.
The IRS issued Revenue Ruling 2011-1, under which it will allow the combining of 403(b) assets with 401(a) assets in the 81-100 trusts.
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I have finally been putting together the pieces on how all of these new DOL transparency rules will affect 403(b) plans. It is, in many ways, surprising. I’m not quite sure its even possible for many 403(b) plans to actually comply with key elements of the new rules, but at east we have some time…
“Unfair Labor Practice” 403(b)…
Continue Reading The 403(b) Unfair Labor Practice
Seek assistance with some very tough decisions, the comparison between 403(b) and 401(k) plans.
Continue Reading WEIGH THE COST WITHOUT PAYING THE 403(B) PIPER!
It had to happen if we kept at this long enough. We have written often over the past few years on the minutiae of 403(b), particularly where they demonstrate the often goofy differences between 401(k) plans and 403(b) plans. We have also written some on the finer technical rules which apply to plan distributed annuities…