Category Archives: record-keeping

Public Agency Plan Administrators Need to Keep Track of Participants Before They Go “Missing”

By Jeff Chang Although “governmental” plans are not subject to ERISA and the guidance issued by the U.S. Department of Labor (DOL), public agency plans in California are subject to ERISA-like rules and would benefit from following the DOL’s recent … Continue reading

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Public Employers Not Participating in Social Security Need To Tell Their Employees About the Windfall Elimination Provision and The Government Pension Offset

By Jeff Chang Previously, we explained that California alone has thousands of public agency employers (i.e., cities, counties, special districts, school districts and JPAs) that do not contribute to Social Security, but instead provide a Social Security Replacement Plan (SSRP). … Continue reading

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Why Most Retirement Plan Advisor or Recordkeeper Searches Are Not Subject to the RFP Requirements of the Sponsoring City or District

By Jeff Chang Many cities and their retirement plan investment advisors believe that the city must periodically issue an RFP for defined contribution plan recordkeeping or investment advisory services in accordance with the city’s RFP policy or ordinance. Having reviewed … Continue reading

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Public Agency 457(b) Plans Require Ongoing Attention and Maintenance

By Jeff Chang Previously, we described the duties and responsibilities of the plan administrator of a public agency 401(a) or 457(b) plan. While it is important for public agency employees to understand the potential scope of the plan administrator position, … Continue reading

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Moving Between 457(b) Recordkeepers When a Stable Value Fund is Involved

By Jeff Chang Many public agency 457(b) plans offer a stable value fund investment option. When a plan moves to a new 457(b) plan recordkeeper, the plan’s investment lineup will usually change. In those cases where the lineup includes a … Continue reading

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