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Does Your Plan Have A Proper Fiduciary Structure?

Does Your Plan Have A Proper Fiduciary Structure?

Recently, we have dealt with an "epidemic" of retirement plans, both very large and very small, that all have the same problem – the lack of a proper fiduciary structure.  Why? As with so many personnel and benefits-related programs, new managers and new advisers...

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Multiple Plans May Result in Excessive Participant Loans

Multiple Plans May Result in Excessive Participant Loans

Having more 457(b) or 401(a) plans than you really need can create administrative headaches, cost participants unnecessary fees, and sometimes result in “excessive” participant loan situations. If an employee participates in a 457(b) or 401(a) plan, it is likely that...

The Proper Timing of 457(b) Deferral Elections

The Proper Timing of 457(b) Deferral Elections

Although many people think that governmental section 457(b) plans and private sector 401(k) plans are the same – because they both allow pre-tax deferrals of similar amounts of income – they are not the same. Due to their differing origins, their rules and...

Are Your Employer “Pick-Ups” Properly Documented?

Are Your Employer “Pick-Ups” Properly Documented?

Although most public employers are familiar with the concept of a “pick-up” of employee mandatory contributions, many do not appreciate what is required to properly document a “pick-up”. This post reviews the basics of employer pick-ups and the documentation...

Do You Have An Appropriate OPEB Document?

Do You Have An Appropriate OPEB Document?

Due to the rising costs of health care and health insurance, pressure from union bargaining partners, and the application of the “equal contribution rule” for public agencies that provide health coverage through CalPERS, many California cities and special districts...

School District 403(b) Plans and Recordkeeper Selection

School District 403(b) Plans and Recordkeeper Selection

Continuing our commentary on California public school and charter school 403(b)s, we shift focus from the ability of a 403(b) employer to limit investment selection to a discussion of the California law on the selection by public school districts and charter schools...

School District 403(b) Plans and Investment Selection

School District 403(b) Plans and Investment Selection

When it comes to 403(b) plans of California school districts or charter schools, there is confusion about the ability of the sponsoring district or charter school to limit the participant’s ability to select a particular insurance provider for their tax-sheltered...

What Is a Section 415(m) Plan, and When Might You Need One?

What Is a Section 415(m) Plan, and When Might You Need One?

Because both the Internal Revenue Code (Code) and PEPRA sometimes “conspire” to limit the retirement benefits of public agency employees in ways that make it harder for affected agencies to hire and retain certain individuals, it may become necessary for those...