Category: 403b Plans
Fraud Interviews
July 09, 2014
Imagine that I am standing over a hunched plan administrator in a dark room with a single bright light shone on them screaming “did you take money from the plan?!?”
Three Strikes and You’re Out (of money!)
February 14, 2013
Similar to ‘three strikes and you’re out’ in baseball, there is little opportunity in life to get multiple chances for a pardon.
Protect Your Retirement
February 01, 2013
With the fiscal cliff negotiations behind us and impending federal tax reform legislation, Congress will now turn its attention to the debt ceiling and federal spending.
From Choo Choo Trains to Required Minimum Distributions
January 14, 2013
Think back to your early childhood when your parents would try to get you to open your mouth and take in a spoonful of food. “Choo! Choo! Here comes the train!”
Will You Hit or Miss the Target?
November 20, 2012
Having a target in mind is always a helpful approach when attempting to guide oneself towards a particular finish line.
Playing it Safe with Rollovers of Mandatory Distributions
September 27, 2012
In our previous blog entry Moving the Goal Posts of Humaneness, we went over the news of the IRS no longer allowing their Letter-Forwarding Service for the use of […]
Moving the Goal Posts of Humaneness
September 13, 2012
In one of our previous blogs Mind Watching My Stuff for a Minute?, we discussed how to go about finding a participant who is unresponsive to communications from the plan sponsor.
“Can You Hear Me Now?” – Part II: Summary Plan Description and Summary of Material Modifications – Electronic Delivery
May 03, 2012
Posted by Christopher Ciminera In last week’s blog I drew a parallel between Verizon’s network coverage and communications of the retirement plan provisions through a Summary Plan Description (SPD) and Summary of Material Modifications (SMM). This week I will go into further detail on how to provide these communications electronically. The analogy to Verizon’s network coverage is still applicable since … Continued
Can You Hear Me Now? – Summary Plan Description and Summary of Material Modifications
April 26, 2012
Posted by Chris Ciminera I think back to the cell phone commercial with the Verizon spokesman with his black glasses and hand to his head as a parallel for retirement plan communications. Creating a plan or changing provisions without employees knowing about it doesn’t create good “coverage” for plan sponsors. In fact, the Employee Retirement Income Security Act … Continued
Employee Benefit Plan Bonding & Fiduciary Liability Insurance
April 12, 2012
Posted by Michael E. Mast, CPA The Employee Retirement Income Security Act (ERISA) section 412 requires plans to obtain an ERISA bond equal to the greater of $1,000 or 10% of the plan’s beginning of year plan assets, with a $500,000 maximum. In addition, if the plan assets include employer stock, then the maximum bond … Continued