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”...
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 29, 2021 | 401(a), 457(b) Plans, Governmental Benefits, Plan Administration, Plan Compliance, Plan Qualification
Most public agency defined contribution plan sponsors can easily recall the current amount being contributed to participants in their plan; however, not all can tell you “how” the contribution is being allocated amongst the participants. The distinction between a...
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
By Jeff Chang 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...
