by Jeff Chang | Mar 15, 2022 | 401(a), Governmental Benefits, Plan Administration, Record Keeping
Sponsors of governmental retirement plans seem to be hiring, firing, or transitioning to new third-party administrators (TPAs) or recordkeepers all the time. The differing roles, duties and legal responsibilities of plan administrators, TPAs, and recordkeepers need to...
by Jeff Chang | Feb 25, 2022 | 401(a), Governmental Benefits, Plan Administration
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...
by Jeff Chang | Feb 10, 2022 | 401(a), 457(b) Plans, Governmental Benefits, Plan Administration, Record Keeping, Social Security
As previously discussed, a public agency that does not have a section 218 agreement has a choice of participating in Social Security or providing a Social Security Replacement Plan (SSRP). Although many California local governments rely on CalPERS as their principal...
by Jeff Chang | Jan 20, 2022 | Governmental Benefits, Health Coverage, Plan Administration, Retiree Health
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...
by Jeff Chang | Jan 5, 2022 | 403(b), Fiduciary Duties, Fiduciary Responsibilities, Plan Administration, Record Keeping
This post addresses the availability of participant-directed investments in practically all California public school district 403(b)s and why the special rules mentioned in California Government Code section 53213.5 must apply if the 403(b) plan is employer-sponsored....
