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....
by Jeff Chang | Dec 2, 2021 | 403(b), Fiduciary Responsibilities, Plan Administration, Record Keeping
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 tax-sheltered...
by Jeff Chang | Sep 29, 2021 | 401(a), 457(b) Plans, Governmental Benefits, Plan Administration, Plan Compliance, Plan Qualification
Most public agency defined contribution plan sponsors can easily recall the current amount being contributed to participants in their plan; however, not all can tell you “how” the contribution is being allocated amongst the participants. The distinction between a...
by Jeff Chang | Aug 4, 2021 | 401(a), 457(b) Plans, Plan Administration, Plan Qualification, Record Keeping
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 plan...
by Jeff Chang | Jul 7, 2021 | 401(a), 457(b) Plans, Fiduciary Duties, Investments, Plan Administration, Record Keeping
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...