Category Archives: Governmental Retirement

Using a Section 115 Trust to Help Manage Pension Obligations

An increasing number of cities, public agencies and special districts are investigating the use of an Internal Revenue Code section 115 trust to help them better manage the short-term costs and long-term liabilities associated with pensions. What is a 115 … Continue reading

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

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 States like California … Continue reading

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Chapter 32: How “Not” To Transition To A New Record-Keeper

Time and time again plan sponsors seriously disadvantage themselves and their plan participants by announcing the migration of their plan from one record-keeper to a new record-keeper before all the conditions for a smooth transition have been fulfilled.  Record-keepers know … Continue reading

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Chapter 28: Why Cashing Out PTO Next Year Doesn’t Work

Our efforts to educate employers about the dangers and surprises associated with PTO cash‑outs (see, Chapter 13 and “When Having Your Cake and Eating It May Be a Bad Thing: Cautions About Cash-Outs of Unused Leave Or PTO”) are having … Continue reading

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Chapter 24: 457(b) Plan Fees And Revenue Sharing

Many public agencies pay little attention to their 457(b) plans because the agencies are not “paying” for them out of their own budgets. See Have You Checked Your Retirement Plan Fees Lately? Plan fiduciaries are legally required, at least in … Continue reading

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