Author Archives: Jeff Chang

Is Your 457(b) or 401(a) Plan Fee Allocation Fair and Reasonable?

By Jeff Chang Investment fiduciaries and plan administrators of California public sector 457(b) and 401(a) plans are required by law to act as “prudent experts” for the sole and exclusive purpose of providing benefits and defraying “reasonable expenses” of administering … Continue reading

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What Participant-Level Records Should Your Governmental 401(a) or 457(b) Plan Keep?

By Jeff Chang In earlier posts, we discussed the plan documents you should keep as well as some of the policies and procedures you will need to properly maintain and administer your governmental 401(a) or 457(b) plan. This post discusses … Continue reading

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Is Your Social Security Replacement Plan Up to Snuff?

By Jeff Chang As we previously explained, most public agencies are not automatically subject to Social Security. They have a choice between voluntarily participating in Social Security pursuant to a section 218 agreement, or they can exempt some or all … Continue reading

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The “Mechanics” of Combining Your Agency’s Multiple 457(b) Plans

By Jeff Chang Many public agencies have come to sponsor and maintain multiple 457(b) plans, which can unnecessarily increase the compliance burden as well the fees paid by participants. Although the human resource and finance managers who typically oversee these … Continue reading

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California Public Agency 401(a) Sponsors Should Amend Their Plans for PEPRA and May Want to Submit for a New IRS Determination Letter

By Jeff Chang Ongoing changes in the way the IRS reviews and “approves” qualified retirement plan documents and the need for California public agencies to comply with the Public Employees’ Pension Reform Act (PEPRA) are forcing these agencies to reevaluate … Continue reading

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