by Jeff Chang | Oct 13, 2021 | 401(a), 457(b) Plans, Governmental Benefits, PEPRA, Plan Administration, Plan Compliance, Plan Qualification, Social Security
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...
by Jeff Chang | Jul 22, 2021 | Pension
Municipal and special district employers, particularly their elected council and board members, continue to express concerns over the size of their agencies’ CalPERS “liabilities” and what can be done to mitigate them. Although there are several strategies to address...
by Jeff Chang | Jun 9, 2021 | 401(a), 457(b) Plans, Plan Administration, Record-keeping, Social Security
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 by providing...
by Jeff Chang | Nov 7, 2019 | Income Tax
With overall required contribution rates increasing at an alarming rate, most CalPERS employers – particularly those with significant “classic” safety populations – are looking for help to pay for these obligations. We continue to see tremendous interest ...
by Jeff Chang | Oct 19, 2018 | 457(b) Plans, Governmental Benefits, Social Security
A section 218 agreement is an agreement between a state (or its local governments and instrumentalities) and the Social Security Administration providing for participation in Social Security and/or Medicare for designated groups of employees. Participation in a...
