Category Archives: Pick-Up Plan

One-time Irrevocable Elections and 401(a) Opt-in Plans

By Jeff Chang There appears to be some confusion among California municipalities about 401(a) opt-in plans use and an employee’s ability to make a one-time irrevocable election to make pre-tax contributions.

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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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Chapter 20: Opting Into A Pick-Up Plan

By: Jeff Chang A recently issued IRS private letter ruling (PLR) puts the kibosh on the fairly common practice of allowing public agency employees to elect whether and at what level to participate in the agency’s mandatory contribution pension plan. This … Continue reading

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