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...

Why a Public Agency Might Want to Add a 401(a) Plan

Why a Public Agency Might Want to Add a 401(a) Plan

The vast majority of public agencies already maintain a 457(b), or eligible deferred compensation plan. A much smaller number also maintains one or more 401(a) plans in addition. This post discusses some of the reasons a public agency might want to add a 401(a) plan...

The Battle Over “Vested Rights” In California

The Battle Over “Vested Rights” In California

Those of you who follow California public pension issues closely already know about the pending California Supreme Court cases focusing on the “vested rights doctrine.” Some of you may have attended, or viewed, my recent webinar, “Preparing for Changes in the ‘Vested...

Chapter 6: The New Year Brings Compliance With Pension Reform

Chapter 6: The New Year Brings Compliance With Pension Reform

Although there has been much talk, good and bad, about California's recent attempt at public pension reform, the fact is that the Public Employees Pension Reform Act of 2013 (PEPRA) is now the law of the State and public employers are obliged to comply with it. FIXES...