by Jeff Chang | Jan 7, 2016 | 457(b) Plans
Many public agencies’ 457(b) plans, where all fees are paid by the plans, may be neglected for years or even decades. And while this neglect may not cost the district or the city any more money, it is definitely costing plan participants. Recently, we advised a...
by Jeff Chang | Aug 18, 2021 | 401(a), 457(b) Plans, Plan Administration, Plan Qualification, Record-keeping
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 their accounts...
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
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....
by Jeff Chang | Mar 17, 2021 | 401(a), 457(b) Plans, Plan Administration, Record-keeping
If you are responsible for the administration of a public agency 457(b) or 401(a) plan, you know that these tax-favored plans are complicated and subject to myriad rules and requirements found in the plan document, the Internal Revenue Code (and related IRS guidance),...
