Category Archives: Plan Administration

Public Agency Retirement Plan Documents: Are They Properly Signed and Dated?

Posted on June 11, 2020 by Jeff Chang

By Jeff Chang Based on numerous requests for plan documents from public agency clients, we know that many cannot find complete sets of their historical and current retirement plan documents that are properly authorized, signed and dated. If this sounds … Continue reading →

Posted in 401(a), 457(b) Plans, Governmental plans, Plan Administration, Plan Qualification, record-keeping | Tagged , , | Comments Off on Public Agency Retirement Plan Documents: Are They Properly Signed and Dated?

Public Agency Furloughs & Distributions from Retirement Plans During COVID-19

Posted on April 28, 2020 by Jeff Chang

By Jeff Chang As many California public agencies are forced to furlough employees during the COVID-19 pandemic, questions arise as to how furloughs are treated for retirement plan distribution rules’ purposes.

Posted in 401(a), 457(b) Plans, Plan Administration, Plan Qualification | Tagged , , | Comments Off on Public Agency Furloughs & Distributions from Retirement Plans During COVID-19

Retirement Plan Changes During COVID-19: Steps Public Agencies Should Follow

Posted on April 14, 2020 by Jeff Chang

By Jeff Chang Although many employers plan to make changes to their retirement plans to take advantage of employee-friendly CARES Act provisions, public agencies should not blindly adopt recommended changes without thinking about the steps involved.

Posted in 401(a), 457(b) Plans, Plan Administration, record-keeping | Tagged , , , , , , | Comments Off on Retirement Plan Changes During COVID-19: Steps Public Agencies Should Follow

The CARES Act’s New Rules for Coronavirus-related Distributions from Governmental 457(b) Plans

Posted on April 2, 2020 by Jeff Chang

By Jeff Chang As expected, the recently enacted Coronavirus Aid, Relief, and Economic Security Act contains provisions providing affected workers with greater, more tax-favored, access to portions of their retirement savings. Although it will be possible to make Coronavirus-related distributions … Continue reading →

Posted in 457(b) Plans, Plan Administration | Tagged , , , | Comments Off on The CARES Act’s New Rules for Coronavirus-related Distributions from Governmental 457(b) Plans

Using 457(b) Unforeseeable Emergency Distributions During the Coronavirus Crisis

Posted on March 24, 2020 by Jeff Chang

By Jeff Chang During the Coronavirus emergency, it may make sense for state and local governments that sponsor 457(b) plans to allow their employees to access the monies in their accounts as unforeseeable emergency distributions. Not all governmental 457(b) plans … Continue reading →

Posted in 457(b) Plans, Plan Administration | Tagged , , , | Comments Off on Using 457(b) Unforeseeable Emergency Distributions During the Coronavirus Crisis