by Jeff Chang | Sep 13, 2022 | 403(b), Plan Administration, Plan Qualification
Of California’s more than 75 public healthcare districts, a significant number of them maintain Internal Revenue Code (IRC) section 403(b) plans. The question is: of those that have them, are they “eligible” to have them? We raise this issue because we have become...
by Jeff Chang | Sep 1, 2021 | 401(a), 457(b) Plans, Governmental Benefits, Plan Administration, Plan Compliance, Plan Qualification
Recently announced changes in the IRS-sponsored Voluntary Compliance Program (VCP) may encourage public agencies with known plan compliance problems or defects to apply this calendar year under Anonymous VCP, before that option is replaced in 2022. As part of its...
by Jeff Chang | Dec 5, 2019 | 401(a), Plan Administration, Plan Qualification
There are several tools that can be used to correct or fix governmental plan problems. First, some classification. Practically all the retirement plans we discuss are “tax-advantaged” in one form or another. However, within this group, there are three main subgroups:...
by Jeff Chang | Sep 16, 2019 | Plan Administration, Plan Qualification
There continues to be new, complicated problems arising from the improper completion and use of off-the-shelf governmental pre-approval plans. Generally, a pre-approved plan from the document provider is reviewed and pre-approved by the IRS for its general use and...
