Category Archives: Fiduciary Responsibilities

School District 403(b) Plans and Participant-Directed Investments

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. In an earlier post, … Continue reading

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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 … Continue reading

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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 … Continue reading

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What Happens to Participants’ 457(b) Deferral Elections When they Pass Away?

Just the other day, a public agency client contacted us to find out what to do with a participant’s 457(b) plan deferral election following the participant’s untimely death due to COVID. As with most cases, cities and special districts would … Continue reading

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Public Agencies May Need Help “Managing” Their Managed Account Offerings

Although financial industry reports reveal that more and more plan sponsors are offering managed account options, it is not clear that public agency 457(b) and 401(a) plan fiduciaries understand their responsibilities to select and monitor these investment options. Here, we … Continue reading

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