Category Archives: Administrative Committee

Plan Administrators, Plan Committees, and Public Agency 457(b) Plans

By Jeff Chang Many investment advisors for public agency 457(b) plans believe that their public agency clients must have a retirement plan committee in order for the plan to have a proper plan administrator or fiduciary structure. As discussed below, … Continue reading

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Are Your Agency’s Retirement Plan Committee Meetings Subject to the Brown Act?

By Jeff Chang In addition to properly identifying your retirement plan fiduciaries, and substituting a knowledgeable administrative committee in place of your governing board or council, California local agencies also need to consider whether the meetings of their administrative committee … Continue reading

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The Duties and Responsibilities of a 457(b) or 401(a) Plan Administrator

By Jeff Chang A surprisingly large number of public employees accept appointment as the plan administrator, or a member of the administrative committee, for their agency’s 457(b) or 401(a) plan. An explanation of the typical duties and responsibilities of a … Continue reading

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Problems with Co-Provider 457(b) Plan Arrangements

By Jeff Chang There is a novel recordkeeping and plan investment arrangement for governmental 457(b) plans that could create a number of problems for the plan’s sponsor, fiduciaries and participants. There may be a significant number of these arrangements throughout … Continue reading

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Why Hire A “3(38)” Adviser For A Public Agency 457(b) Or 401(a) Plan?

By Jeff Chang Most public sector retirement plan sponsors understand that even though their plans may not be subject to the fiduciary duties and responsibilities of ERISA, they are still subject to fiduciary duties under applicable State law.  Moreover, certain … Continue reading

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