by Jeff Chang | Jun 5, 2013 | Retiree Health
By: Jeff Chang This entry comes to you with the help of my colleague Wendy Tauriainen. In our office, we enjoy the inside jokes of the pension and benefits world (yes there actually are jokes). One of them is the label “bitaxual” for those entities...
by Jeff Chang | Nov 21, 2022 | 401(a), Governmental Benefits, Plan Administration, Plan Qualification
In an earlier post, we explained what “pick-up” contributions are, and how they are used by many governmental employers to convert mandatory after-tax employee contributions into pre-tax contributions. IRS Revenue Ruling 2006-43 contains specific guidance on what the...
by Jeff Chang | Oct 27, 2021 | 457(b) Plans, Fiduciary Responsibilities, Income Tax, Plan Administration, Record Keeping
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 owe the former employee...
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 Stewart Savage | Jul 20, 2021
Privacy Policy This privacy policy has been compiled to better serve those who are concerned with how their ‘Personally Identifiable Information’ (PII) is being used online. PII, as described in US privacy law and information security, is information that can be used...