by Jeff Chang | Jan 10, 2024 | 401(a), Governmental Benefits, Plan Administration
Not too long ago, we were browsing the California State Controller’s website and were surprised to find a requirement for the filing of a Public Retirement System Financial Transactions Report for each state and local public retirement system on an annual basis. Of...
by Jeff Chang | Jul 27, 2023 | Governmental Benefits, Plan Administration, Retiree Health
Governmental employers are challenged by today’s tight labor market, where many experienced and older public employees have already retired. It is becoming increasingly difficult to attract experienced or senior management personnel without commitments or guarantees...
by Jeff Chang | May 15, 2023 | 401(a), 403(b), 457(b) Plans, Governmental Benefits, Plan Administration
This post discusses some of the interesting and special rules and laws that govern the retirement plans established by Indian tribal governments (ITGs). Concerns over state and local government sovereignty caused Congress to exempt the plans of state and local...
by Jeff Chang | Mar 6, 2023 | 401(a), 403(b), 457(b) Plans, Plan Administration
Like their private sector counterparts, governmental retirement plans (e.g., defined benefit, 401(a), 457(b), and 403(b)) are all subject to the general retirement plan rules pertaining to “required minimum distributions.” The good news is that several recent law...
by Jeff Chang | Jan 23, 2023 | 401(a), 403(b), Governmental Benefits, Plan Administration, Plan Qualification
This post highlights many of the significant law changes affecting governmental retirement plans that are part of the recently adopted Secure 2.0 Act of 2022 (the Act). The table below simply highlights “what” is changed, “when” the change takes effect, and “whether”...
