Category Archives: Governmental Retirement

Money Purchase Pension Plans with an “Opt-in” Feature

By Jeff Chang Almost 4 years ago, we discussed an IRS private letter ruling that raised serious concerns about public agency money purchase pension plans. The ruling allowed employees to “opt-in” to, or elect, their own rate of employee contribution. … Continue reading

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California Supreme Court Rules in Cal Fire Case – Round One Goes to the Legislature, But It Ain’t Over

By Jeff Chang The California Supreme Court recently issued its decision in the Cal Fire Local 2881 v. CalPERS case – the first of six so-called “California Rule” (“Vested Pension Rights”) cases pending before the Court. The California Rule, in … Continue reading

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“Encouraging” the Repayment of Student Loan Debt

By Jeff Chang Many of the public agencies we work with have expressed a strong interest in programs and arrangements that will help or encourage their employees to pay off their student loan debts. These programs can be important recruiting, … Continue reading

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Using a Section 115 Trust to Help Manage Pension Obligations

By Jeff Chang 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 … 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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