by Jeff Chang | Apr 1, 2016 | Fiduciary Responsibilities, Record Keeping
By Jeff Chang Many public agencies pay little attention to their 457(b) plans because the agencies are not “paying” for them out of their own budgets. See Have You Checked Your Retirement Plan Fees Lately? Plan fiduciaries are legally required, at least in...
by Jeff Chang | Jan 7, 2016 | 457(b) Plans
By Jeff Chang 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....
by Jeff Chang | Aug 25, 2015 | Income Tax, Pension, Retiree Health
By: Jeff Chang A recently issued IRS private letter ruling (PLR) puts the kibosh on the fairly common practice of allowing public agency employees to elect whether and at what level to participate in the agency’s mandatory contribution pension plan. This plan...
by Jeff Chang | Jul 24, 2015 | Pension
By: Jeff Chang The IRS has just announced major changes to its program for reviewing and approving the qualified status of certain retirement plan documents (see, Announcement 2015-19). Essentially, the Service is doing away with its program for issuing determination...
by Jeff Chang | Mar 31, 2015 | Pension
By: Jeff Chang Here’s an interesting difference between public and private industry plans that we were reminded of recently and that we’d like to share with our governmental clients and their advisors because it can be so problematic. In most private industry plans,...
