by Jeff Chang | Sep 16, 2021 | 401(a), 457(b) Plans, Fiduciary Responsibilities, Plan Administration, Record Keeping
Although financial industry reports reveal that more and more plan sponsors are offering managed account options, it is not clear that public agency 457(b) and 401(a) plan fiduciaries understand their responsibilities to select and monitor these investment options....
by Jeff Chang | Aug 18, 2021 | 401(a), 457(b) Plans, Plan Administration, Plan Qualification, Record Keeping
Quite often, a review of the participant status within an agency’s 401(a) and 457(b) plans will reveal that the plans have a large number of dormant accounts – accounts relating to previously terminated, deceased, or divorced employees (who have divided their accounts...
by Jeff Chang | May 26, 2021 | 457(b) Plans, Investments, Plan Administration, Record Keeping, Trending Topics
By Jeff Chang Many public agencies have come to sponsor and maintain multiple 457(b) plans, which can unnecessarily increase the compliance burden as well the fees paid by participants. Although the human resource and finance managers who typically oversee these plans...
by Jeff Chang | Apr 14, 2021 | Plan Administration, Record Keeping
By Jeff Chang Although many of our municipal and special district clients have sophisticated contracting and RFP departments, they often do not have balanced and well-negotiated administrative service agreements (ASAs) with their 401(a) and 457(b) recordkeepers. This...
by Jeff Chang | Aug 11, 2020 | Plan Administration, Record Keeping
By Jeff Chang Not surprisingly, many cities and special districts no longer have monies available in their budgets to spend on things such as legal fees to analyze and correct plan administration problems and compliance issues. When it is not feasible for the plan...
