Category Archives: record-keeping

Does Your Agency’s Plan Have Dormant Accounts That Should Be Paid Out?

Quite often, a review of the participant status within an agency’s 401(a) and 457(b) plans will reveal that the plans have a large number of dormant accounts – accounts relating to previously terminated, deceased, or divorced employees (who have divided … Continue reading

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Take a Closer Look at Your 401(a) and 457(b) Plans When You Change Providers

Previously, we have discussed a number of the do’s and don’ts of switching plan providers, such as investment advisors and recordkeepers. This post focuses on why plan sponsors, plan administrators and plan recordkeepers all should take greater care in reviewing … Continue reading

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

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 the plan. We … Continue reading

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

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 the participant-level records … Continue reading

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Is Your Social Security Replacement Plan Up to Snuff?

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 of their payroll … Continue reading

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