There is still a lot of confusion out there about how the non-ERISA safe harbor works. Many people over simplify the rules and assume if there is no employer contribution that you will be a non-ERISA 403(b) plan. That couldn’t be further from the truth. If there is any active involvement of the employer, it likely crosses the ERISA line. Read more
Posts tagged ‘ERISA’
In a recent post, I pointed out some of the complexity surrounding beneficiary designations in a multiple provider environment—and potential legal challenges that are likely to result upon a participant’s death when multiple, different beneficiary designations exist.
Another area with very similar concern is with Qualified Domestic Relations Orders (QDROs). Read more
Back in July, I posted a blog about the trend emerging among 403(b) plans sponsors in higher education – in particular among private colleges and universities. After several years of administering their 403(b) plans under the full force of the final 403(b) regulations, and ERISA, many are now aware of the efficiencies that can be realized and the ease of compliance by consolidating down to a single service provider.
I caught up recently with Vince Rainforth at The Principal® about tax-exempt distribution. I asked him what we’re seeing on the street relative to this emerging trend. Read more
Cause and effect is a fairly simple concept that can be applied to almost every decision, action, or in this case, legislative ruling. The Supreme Court’s recent decision, declaring a portion of the Defense of Marriage Act (DOMA) unconstitutional, has received much public attention. However, something that has been less discussed is the ruling’s effect on retirement plans. Read more