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June 2008 403(b) Plan Termination FAQs 6/25/08 — Excerpt: The following questions and answers address several of the more important issues regarding 403(b) plan termination. [SunGard] 403(b) Rule Changes Spur New Approach 6/24/08 — IRS rewrite of regulations means new ways of doing business for managers, consultants. [Pensions & Investments] New Rules Shake Up the 403(b) Market 6/16/08 — Pending rule changes are shaking up the market for 403(b) plans. [DowJones] TIAA-CREF 403(b) Vet Joins SageView (PDF) 6/12/08 — SageView Advisory Group, an independent retirement and personal wealth management consulting firm, hires Brian Cressey. [Sageview] Comparative Look at 401(k), 403(b) and 457(b)(PDF) 6/12/08 — Includes chart (pages 5-8). [Millimen] Fiduciary Focus: Fleecing 403(b) Participants Part 8 (PDF) 6/10/08 — There are some courageous school officials trying to do the right thing... [Morningstar] 403(b)s Brace for Big Changes 6/9/08 — Big changes are brewing in the 403(b) world. [OnWallStreet] Year-End Deadline for Section 403(b) Plans Approaches (PDF) 6/6/08 — Overview of steps to take before new 403(b) regs go into effect January 1, 2009. [Locke Lord Bissell & Liddell LLP] Court Dismisses Case Against NEA Valuebuilder 6/2/08 — Court ruled that the NEA Annuities promoted to public school employees were not established or maintained by either the public school employers or the NEA (free login). [PlanSponsor] May 2008 Pioneer to Exit 403(b) Admin Biz 5/26/08 — Excerpt: "... we are now facing significant change due to complexities of the (new) regulations." [Pioneer] Lawsuit Claims Fraud in Teacher Retirement Plan 5/19/08 — Excerpt: "... lawsuit targets an investment option known as a VALIC annuity." [403(b)wise] Obama-nomics: Michelle Has a 403(b) 5/9/08 — Michelle Obama has a 403(b) through her job with University of Chicago Hospitals, which makes available TIAA-CREF and Vanguard products. [Slate] Best Practices for 403(b) Plan Information Sharing 5/7/08 — Best practices with respect to the data elements for information sharing requirement. [SPARK] Students' Understanding of Personal Finance Weakens (DOC) 5/7/08 — For the first time on a Jump$tart survey, high school seniors' knowledge of personal finance dropped below 50 percent. [Jump$tart] 2007 403(b) Market Statistics 5/5/08 — The latest 403(b) contribution statistics are now available from the Spectrem Group. [403(b)wise] April 2008 The Collective Bargaining Dilemma 4/30/08 — Often overlooked in new regs is the inability to exclude collective bargaining employees from the right to make elective deferrals. [BNA Tax & Accounting] 403(b) FAQs from NAGDCA 4/28/08 — Plan Governance and Fiduciary Responsibility [NAGDCA] 403(b)igger Is Not Always Better 4/23/08 — When it comes to the size of a 403(b) plan's investment lineup, more isn't always better. (free login). [PlanSponsor] Wal-Mart Sued Over 401(k) Fees 4/22/08 — Missouri Wal-Mart employee and participant in its 401(k) plan has filed an excessive fee lawsuit (free login). [PlanSponsor] Ask Bob Architect 4/21/08 — Senior Tax Law Specialist and resident 403(b) expert fields questions on new regs. [IRS] Should Nonprofits Switch From 403(b) to 401(k)? 4/12/08 — Should burden of new 403(b) regs cause switch to 401(k)? [Fort William LLC] Draft of Best Practices for 403(b) Info Sharing (PDF) 4/8/08 — Excerpt: ... best practices with respect to the data elements for information sharing between 403(b) plan employers or employer representatives and vendors. [SPARK] Florida Plan Continues to be Model of Secrecy 4/2/08 — More empty praise for Florida's "Model Plan." [403(b)wise] What Happens to Discontinued 403(b) Contracts? 4/2/08 — Excerpt: There seems to be one question about vendor consolidation that hasn't been clearly addressed in general IRS publications (free login). [PlanSponsor] Can Written Plan Requirements Be Satisfied with Existing Documents? 4/2/08 — Excerpt: The preamble to the final regulations provides some explanation on this point. (free login). [PlanSponsor] March 2008 SPARK Asks for Pre-Approved 403(b) Prototype Plan Program and Regs Extension (DOC) 3/25/08 — Excerpt: The objective of our comment letter to the IRS is to help in the design of a pre-approved 403(b) plan program which is accessible to employers on a cost-effective basis. [SPARK] West Virginia Teachers' Pension Plan Revised 3/24/08 — Latest proposal offers chance to move from 401(k)-style plan to DB plan. [Education Week] 20th Century 403(b) Investing vs. 21st Century (PDF) 3/24/08 — Investor advocate compares old school 403(b) investing practices to new school practices. [Steve Schullo] Texas Retirement System Updates 403(b) Compliance 3/20/08 — Employers get a little more leeway as it relates to excluding vendors who fail to comply with new regulations; still can't boot them for offering lousy products. [TRS] Written Plan Requirement 3/20/08 — The main provisions regarding the written 403(b) plan and 403(b) contracts as outlined by the Groom Law Group (free login). [PlanSponsor] SPARK Institute Wants Extension for New 403(b) Regs 3/20/08 — Institute has filed a 13-page comment letter with IRS asking for delay of new regs. [planadvisor] 'Distributing' 403(b) Annuities 3/18/08 — New 403(b) regulations raise more questions than answers. [benefitsbizblog.com] IBM Raises the Bar with New 401(k) Plan 3/17/08 — Plan has it all including: auto-enrollment, customized life-cycle funds with rock-bottom fees, generous matching, free education and more. [Pensions & Investments] Agent Ad: Have You Taken Advantage of the Booming 403(b) Market? 3/11/08 — Excerpt: We've just announced new enhancements that will ignite your sales in this profitable market... Attractive commissions boost your income. [Great American] Securities Laws and 403(b) Plans 3/11/08 — One of the most striking differences between 403(b) plans and 401(k) plans is the way in which the Securities Act of 1933 and the Security Exchange Act of 1934 apply to them. [benefitsbizblog.com] Law Students Teach Financial Literacy at High School (pdf) 3/10/08 — University of New Mexico law students led discussions about credit cards, payday lending and compound interest during a financial literacy service day. [University of New Mexico] Helping Schools Gain Access to Low-Cost 403(b) Products (pdf) 3/4/08 — Article describes five methods — four of which require legal action — schools can use to gain access to low-cost investment products. [Michael Engdahl] 403(b) Final Regulations: Transfers and Exchanges 3/3/08 — Overview of new transfer rules that generally became effective September 24, 2007. (free login) [PlanSponsor] February 2008 403(b) Sponsors Want Help in Complying with New Regs 2/27/08 — Spectrem Group survey says sponsors looking for guidance. (free login) [PlanSponsor] New Florida 403(b) Plan: Model or More of the Same? 2/26/08 — New 403(b) plan claims to be a "model" plan; Fact, fiction or somewhere in between? [403(b)wise Discussion] Supreme Court Rules Workers Can Sue Over 401(k) Losses 2/22/08 — Workers gained a powerful weapon Wednesday by winning the right to sue employers when their retirement plans are mismanaged. [LA Times] Sovereign Immunity for School Districts 403(b) Fiduciary Choices? 2/20/08 — Some governmental employers have been warned that just because ERISA doesn't apply to their 403(b) plans, state trust and fiduciary laws do. [benefitsbizblog.com] Privacy and the New 403(b) Rules 2/11/08 — Opinion: There's a real monster lurking in the 403(b) bushes. [benefitsbizblog.com] School Workers Find Costlier Choices in Saving for Retirement 2/10/08 — Texas employees stuck with lots of high-cost 403(b) products; will have to look closely to find low-cost choices. [statesman.com] 403(b) Interests Excluded from Bankruptcy Turnover 2/1/08 — Excerpt: court found that the 403(b) plan sponsored by OhioHealth Corp. qualified as a trust that is excluded as property under bankruptcy law. [planadvisor] January 2008 Senate Passes Roth 457 1/29/08 — Excerpt: Differences between the House and Senate bills will have to be resolved in a conference, which is expected to take place early in 2008. [ICMA-RC] Rebroadcast of Final 403(b) Regulations Webcast 1/23/08 — Listen to January 22 broadcast of final 403(b) regulations webcast hosted by Bob Architect of IRS, Ed Derman of CalSTRS, and Rod Crane and Elaine Immerson of TIAA-CREF (free login). [NAGDCA] 403(b) Slim Down 1/21/08 — New regulations are spurring employers to trim number of vendors. [Pensions & Investments] WV Retirement Board Loses Appeal for Teacher Plans Merger 1/15/08 — Excerpt: WV Supreme Court declined to review a lower court ruling over the merger of the state's two retirement systems covering teachers (free login). [Plan Sponsor] 2006 Comparative Study of Major Public Employee Retirement Systems (pdf) 1/14/08 — Excerpt: This report compares significant features of major state and local public employee retirement systems in the United States. [Wisconsin Legislative Council] New Retirement Funds to Challenge Annuities? 1/7/08 — Some observers believe structured retirement payout funds such as these represent a new generation of products that stand in direct competition to annuities. [Financial Advisor] More 401(k) Fee Cases Are in the Works 1/1/08 — Excerpt: Lawsuits put an intense spotlight on revenue-sharing practices of providers that receive money from investment managers. [Workforce] December 2007 New Law To Expand Reach of 401(k)s 12/23/07 — It is now easier for employers to automatically enroll employees. [Washington Post] Is it a Violation of Texas Law for 403(b) Vendors to Act as TPAs? 12/21/07 — Rep. Vickie Truitt, Chair of the Texas House Pensions and Investments Committee, is looking into this issue. [tasanet] Whither Goes the 403(b) Market in 2008? (pdf) 12/13/07 — Don't the new IRS permanent regulations on 403(b) plans spell the end of this market as we have known it for decades? [Still River] 403(b): New Rules, New Risks, New Consequences 12/12/07 — Employee benefits consultant Kara Tedesco outlines risks of new regs. [Milliman] Additional Guidance Provides Model Plan Language for Public School 403(b) Plans 12/11/07 — Overview of IRS model 403(b) plan language. [Gatekeeper] NTSAA Calls for Help in Developing 403(b) Data Standards 12/5/07 — Goal to devise data standards that will enable sharing of 403(b) plan information with plan sponsors and administrators, as necessitated by recent IRS regs (free login). [PlanSponsor] Grasping the New 403(b) Rules 12/5/07 — Changes provide opportunities for advisors [Investment Advisor] IRS Issues Model 403(b) Plan Language (pdf) 12/3/07 — Analysis of IRS model 403(b) plan. [Baker & Daniels] November 2007 Wither Low-Cost K-12 403(b) Investments? 11/29/07 — Will new information sharing rules drive low-cost vendors out of K-12 market? [403(b)wise] IRS Model 403(b) Plan Language (pdf) 11/27/07 — Excerpt: This revenue procedure provides model plan language that may be used by public schools... [IRS] Proposed Regulations for Automatic Contribution Arrangements 11/19/07 — Overview of proposed regulations relating to automatic contribution arrangements for DC plans. [Kilpatrick Stockton] Target Date Fund Winners ID'd 11/19/07 — Lipper ranks families in booming 401(k) niche; T. Rowe, Principal, Fidelity top list (free login). [Financial Week] Notes on Conducting Plan Committee Meetings 11/16/07 — Addresses agenda items for plan selection committee meetings (free login). [PlanSponsor] Auto Enrollment Guidance 11/8/07 — Summation of proposed regs for automatic enrollment into 403(b), 457(b) and 401(k). [Planadvisor] Proposed 403(b) Auto Enrollment Guidance (pdf) 11/8/07 — IRS proposed regs for automatic enrollment into 403(b), 457(b) and 401(k). [IRS] Model 403(b) Plan 11/5/07 — Simple recipe to ensure a quality, employee-friendly 403(b) that is in IRS compliance. [Morningstar] October 2007 Investing Information for Teachers and Students from SEC 10/26/07 — Information on teacher retirements plans and investing concepts for students. [SEC] 2008 Elective Deferral Limits for Employees of Non-Profit and Governmental Employers 10/24/07 — User-friendly chart shows 401(k); 403(b) and 457(b) contribution limits. [Prudential] Investor Empowerment Wiki Site Launched 10/24/07 — Goal: to enhance investor protection and increase the likelihood of successful investing through education; contributors sought. [Ted Siedle] PSCA To Conduct Benchmarking Study Of 403(b) 10/23/07 — The Profit Sharing/401(k) Council of America (PSCA) to study 403(b) plan sponsor best practices. [Wolters Kluwer] 2008 Benefits Limit 10/23/07 — The IRS and the Social Security Administration have announced the cost-of-living adjustments for various benefit plan limits — including the 403(b) — for 2008 [Kilpatrick Stockton] New Fiduciary Responsibility for Employers 10/21/07 — Does your plan work to exclusive benefit of participant? [Milliman] 403(b) 2008 Contribution Limits Remain at $15,500 10/18/07 — Excerpt: The limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) — which covers the 403(b) — remains unchanged at $15,500; age 50 catchup remains at $5,000. [IRS] Get Familiar with the Facts (pdf) 10/15/07 — 403(b) regulations: understanding the changes. [Standard] Plan Sponsors Guide to New Regs 10/15/07 — Thorough overview of new regs. [Principal] Side-by-side Comparison of Old and New Regs 10/15/07 — Old and new regs in chart form and the implication for employers. [Principal] Blacks' Retirement Security at Risk 10/12/07 — Research suggests blacks participate in retirement plans at far lower rates than whites (free login). [Washington Post] Fleecing 403(b) Participants (Part 6) 10/8/07 — K-12 concern with liability and denial of responsibility reveals disconnect in thinking. [Morningstar] The "Free" Fallacy of TPAs (pdf) 10/3/07 — Opinion: Why "free" 403(b) TPAs are a bad idea. [Scott Dauenhauer] AIG VALIC Launches No-Load Mutual Fund Platform 10/1/07 — Cost of funds, which include T. Rowe Price and Wellington Management, range from .35% to 1.17% and average 0.8%. [BusinessWire] September 2007 Too Good to be True? (pdf) 9/27/07 — EIA claim: NO stock market risk and 11% match on deposits; reportedly surrender charge lasts 14 years and begins at 22%. [403(b)wise] Higher Ed Faculty Like a Few Choices in 403(b) Plan Vendors 9/24/07 — In survey of over 500 faculty in colleges and universities, Fidelity found 51% of faculty said having two to three 403(b) plan providers would be ideal (free login). [PlanSponsor] Fidelity Fighting for 403(b) Plan Market 9/24/07 — Anticipated IRS regulations spur 'renewed attention' to unseating giant TIAA-CREF. [Pensions & Investments] Keaton for CalSTRS Board (pdf) 9/24/07 — 403(b)wise endorses Sandy Keaton for CalSTRS Board. [403(b)wise] Vanguard On Board With New Transfer Rules 9/20/07 — Excerpt: "Please rest assured that we intend to comply with these regulations." [403(b)wise Discussion Board] 90-24 Rules Before and After September 24 Deadline 9/18/07 — NTSAA interpretation of transfer rules after discussion with IRS and Treasury officials. [NTSAA] Final 403(b) Regulations Issued by IRS Require Employer Action 9/18/07 — Overview of new 403(b) regulations. [Dechert] Theory of Life-Cycle Saving and Investing 9/17/07 — Excerpt: The theory teaches us to view financial assets as vehicles for transferring resources across different times and outcomes over the life cycle. [FRB] Nonprofit Workers Face Retirement-Plan Deadline 9/10/07 — Are you a teacher with a high-cost savings plan? New IRS rules this month will limit your ability to switch to a better one. [Money] Overview of New Regs 9/7/07 — Summation of new 403(b) regulations. [Seyfarth-Shaw] Shift 403(b) Assets by Sept. 24, or Else 9/6/07 — The 90-24 deadline is coming... [newsobserver.com] August 2007 IRS Working on Model 403(b) Plan 8/29/07 — IRS's Bob Architect said a "simple plan" is in the works. [Walter Kluwer] NEA Valuebuilder Introduces DirectInvest Online Product 8/29/07 — Excerpt: DirectInvest is designed for NEA members who feel comfortable making their own investing decisions. [NEA Member Benefits] 90-24 Transfers 8/24/07 — A look at 90-24 transfer before and after September 24 deadline. [McKay Hochman] New Regs Overview and Look at Hidden Fees (PDF) 8/22/07 — A look at the new regs and the high cost of hidden fees, particularly in annuity products. [Millman] 90-24 Outrage 8/16/07 — Virginia teachers feels effects of rapid termination of 90-24 transfer. [403(b)wise] Final Regs Under Section 403(b) (PDF) 8/14/07 — Concise verview of final regs. [Morgan, Lewis & Bockius LLP] New Transfer Rules Require Immediate Action 8/6/07 — New regs "may functionally require changes in procedures for certain transfers or exchanges of existing contracts" as early as September 25, 2007. [Sutherland Asbill & Brennan] Fleecing 403(b) Participants (Part 5) 8/2/07 — In bid to improve 403(b) plans, K-12 officials face "withering onslaught" from big insurance companies. [Morningstar] July 2007 Overview of 403(b) Regulations (PDF) 7/28/07 — Excerpt: After years of waiting, we finally have the answers. [Drinker Biddle & Reath LLP] Common Remitter Functions Under New Regs 7/26/07 — Opinion: It looks like all employers trying to use the special 403(b) exemption are going to have to hire somebody to provide compliance services. [403b-457plansblog] CalSTRS Offers 403(b) Compliance Service 7/26/07 — CalSTRS will offer administration and compliance services on a low-cost basis as a solution for employers who may not have the financial resources. [CalSTRS] Overview: ERISA and Final 403(b) Regs 7/25/07 — Department of Labor issues guidance on interaction. [Sutherland Asbill & Brennan LLP] Highlights of New Regs 7/25/07 — Excerpt: The written plan document will be required for plan years beginning after December 31, 2008. [Gatekeeper] IRS 403(b) Guidance Guide 7/24/07 — Information on new regs for employers and employees. [GateKeeper] The Employer Get Wise Guide for the New 403(b) Regs 7/24/07 — Essential information for the benefits official. [403(b)wise] New 403(b) Regulations Released 7/23/07 — Excerpt: the regulations generally apply for taxable years beginning after December 31, 2008. [US Treasury] Daniels-Hall vs. NEA 7/17/07 — Class action complaint for violations of the Employee Retirement Income Security Act (ERISA). [403(b)wise] 2 Teachers Sue Union Over Retirement Plan 7/17/07 — NEA is accused of getting a kickback for touting a costly offering (free login). [LA Times] Lawsuit Says Teachers Are Overcharged on Annuities 7/17/07 — Lawsuit contends NEA breached its duty by endorsing high-cost investments in exchange for payment (free login). [NY Times] "Teachers Deserve Better" As Lawsuit Charges NEA For Overcharging 7/17/07 — lawsuit claims National Education Association( NEA) overcharged the very teachers it represented in annuities sold by Nationwide Life Insurance Company and the Security Benefit Group. [AHN] IRS Issues Further Roth 403(b) Guidance 7/16/07 — Synopsis of updated IRS guidelines. [Milliman] Overhaul Overdue for Nonprofit Plans 7/15/07 — The 403(b) is about to undergo first overhaul since Johnson Administration. [Baltimore Sun] Court Allows 403(b) Bankruptcy Exclusion 7/13/07 — Judge rules 403(b) assets are properly excludable (free login). [PlanSponsor] A Suggested Model 403(b) Plan 7/10/07 — Excerpt: school district officials must jettison the absurdities currently plaguing so many 403(b) plans. [Morningstar] Why Schools Lack Low-Cost 403(b) Investment Choices 7/9/07 — Detailed description of myriad reasons school employees often lack direct access to low-cost 403(b) choices. [Michael Engdahl] 403(b)ill of Rights 7/4/07 — We the people of the 403(b) plan, in order to form a more perfect retirement vehicle... [403(b)wise] June 2007 CalSTRS & TIAA-CREF Team Up in California 6/28/07 — TIAA-CREF will provide low cost savings plans [including Roth 403(b)] for public school employees in state. [CalSTRS] Transferring Out of a High Fee 403(b) 6/28/07 — Indiana high school teacher shares her story. [403(b)wise] IRS Wants Eligible School Employees to Know About 403(b) 6/21/07 — IRS expanding outreach effort to ensure schools comply with universal availability requirement. [IRS] NEA 2006 Survey of Pension Plans 6/21/07 — Title: Characteristics of Large Public Education Pension Plans. [NEA] Study: Teacher Pensions and Retirement Behavior 6/21/07 — Title: How Teacher Pension Rules Affect Mobility and Retirement. [Calder] Report: Ohio STRS a 'Ticking Time Bomb' 6/11/07 — Ohio State Teacher Retirement System "faces immense and growing fiscal challenges" (free login). [Plan Sponsor] 2007 403(b) ERISA Checklist 6/8/07 — Compliance checklist for DB, DC and 403(b)Plans subject to ERISA. [Prudential] Fleecing 403(b) Participants (part 3) 6/7/07 — A look at implicit, explicit and administrative costs in a 403(b) plan. [Morningstar] Nager Vs. Board of Trustees of the Teachers' Retirement System of NYC 6/4/07 — Charge: Portfolio managed as stable value fund when state law mandates fixed income and equities. Judge's findings and conclusions [Joel L. Frank] May 2007 New Homework for Teachers, Other 403(b) Saver ASPPA Recommends New Regs Not Go Into Effect in 2008 5/31/07 — To allow time for compliance ASPPA recommends new regs begin no sooner than January 1, 2009. [ASPPA] 5/20/07 — Thanks to increased IRS scrutiny, major changes are likely coming soon to 403(b) plans. [CBS MarketWatch] Fees Take Huge Toll on 403(b) Plans 5/17/07 — The difference in fees between 0.5% and 2.25% can be huge over time. [Bankrate] How to Avoid 403(b) Pitfalls 5/16/07 — Pending federal regulations should make it easier for 403(b) participants. [Bankrate] Lower Fees and Better Disclosure on the Horizon? 5/15/07 — A recent wave of lawsuits is shedding even more light on high fees charged to teachers. [Gregory Y. Porter] Employer Get Wise Guide for the New 403(b) Regs 5/9/07 — New regs offer employers unique opportunity to drastically improve their plan. [403(b)wise] School District 403(b) Plans Subject to IRS Scrutiny 5/7/07 — Includes sample IRS correspondence letters to schools. [Fred Reish] Fleecing 403(b) Plan Participants (part 2) 5/3/07 — Excerpt: the NEA Valuebuilder annuity can easily reach 500 basis points. [Morningstar] Fleecing 403(b) Plan Participants (part 1) 5/3/07 — Excerpt: the NEA Valuebuilder annuity can easily reach 500 basis points. [Morningstar] Benefits Officials: Do You Understand Your Plan Costs? 5/1/07 — Greater scrutiny of fees coming. [NAGDCA] Benefits Officials: Ignore 403(b) at Your Peril 5/1/07 — School officials must understand their fiduciary responsibility. [Fred Reish] April 2007 403(b) Vendors Brace for Change 4/17/07 — Vendors ready for final regs which are reportedly only weeks away (free login). [Plan Sponsor] Attorney Targets NEA Valuebuilder 403(b) 4/9/07 — Question: Did endorsement fee trump best interests of NEA members? (free login). [Plan Sponsor] Mutual Funds Now Make Up 21% of 403(b) Market; Up from 17% in 2001 4/8/07 — 2006 403(b) contribution information from the Spectrem Group. [403(b)wise] Imperfect Union 4/5/07 — Lawsuit targets ING NYSUT 403(b) arrangement. [Forbes] Benefits Officials: Stop Acting Like 98-pound Weaklings 4/4/07 — Coming 403(b) regulations offer opportunity to get tough with vendors on pricing. [403(b)wise] Funds May Get New Rules on Fee Disclosure 4/4/07 — The SEC's chief wants 'one simple number' to show the cost of any retirement-plan option. [LA Times] March 2007 CalSTRS Adds 457 and Roth 403(b) 3/29/07 — The expanded supplemental savings investment program will be available to all employees of a school district, not just to teachers. [CalSTRS] Popping the Hood 3/27/07 — An analysis of major life cycle fund families [Turnstone Advisory Group] Investors Want Straight Talk 3/26/07 — Survey: Financial advisers should swear off jargon and rely on straight talk. [Investment News] Reps Forced to Sell Proprietary Products to Get Health Insurance? 3/19/07 — Excerpt: If reps or agents don't sell enough of the firm's products they won't get health insurance for themselves, their spouse, or their children. [Scott Dauenhauer] Employer Guide to Retirement Plan Fees 3/19/07 — Clear, comprehensive guide to fiduciary responsibility and plan fees; includes glossary of terms. [The Standard] Lawmakers Scrutinize 401(k) Fees 3/7/07 — Excerpt: Fees often are scattered across written materials, or sometimes not reported at all, making it difficult... to comparison shop. [Washington Post] 403(b) Reg Guidance Coming in June? 3/5/07 — According to Washington-based publisher BNA, guidance to be out by June, effective date to be January 1, 2008. [Plan Sponsor] U.S. Heading For Financial Trouble? 3/4/07 — Excerpt: we suffer from a fiscal cancer... it could have catastrophic consequences for our country. [CBS] 403(b) Reg Guidance Coming in June? 3/5/07 — According to Washington-based publisher BNA, guidance to be out by June, effective date to be January 1, 2008. [Plan Sponsor] February 2007 IRS 403(b) Plan Checklist 2/26/07 — This "quick tool" is designed to help employers keep their plan in compliance. [IRS] Teachers Sue Metlife Over 403(b) Funds 2/21/07 — Suit alleges teachers duped in a conspiracy that favored investing retirement funds with Metlife. [NWI.com] Fidelity Sees Dramatic Increase in Auto Enrollment 2/16/07 — Up 95% in 2006; lifecycle funds popular (free login). [Plan Sponsor] CalSTRS Seeks TPA for New Deferred Compensation Plan Services 2/14/07 — CalSTRS to offer Roth 403(b) and a 457(b) plan. [CalSTRS] 401(k) Auto Enrollment on the March 2/2/07 — Excerpt: 58% of companies surveyed will automatically enroll employees into 401(k) plans by the end of 2007 (free login). [Plan Sponsor] January 2007 It's Getting Easier to Create a Socially Responsible Savings Plan 1/26/07 — Excerpt: Socially responsible investing is the fastest growing segment of the managed-money industry. [MarketWatch] Taking on Plan Fees That Take Away From You 1/17/07 — Excerpt: Fees, especially investment fees, are Wall Street's dirty little secret. [The Journal Record] Congress Goes After Retirement Plan Fees 1/9/07 — Labor Department, Rep. George Miller, spearhead a move toward broader disclosure. [Workforce Management] California to Review CalSTRS and CalPERS Shortfalls 1/2/07 — Excerpt: Unfunded pension liabilities for CalPERS and CalSTRS are $49 billion. [Office of the Governor] December 2006 Changing 403(b) Plans for Changing Times 12/18/06 — New 403(b) due dilligence and compliance expectations provide "enormous opportunities for employers to reduce fees." [Benefits & Compensation Digest] Variable Annuity Watch 12/14/06 — There are seven reasons why variable annuities don't work for the vast majority of investors. [Scott Burns] Protect Your Nest Egg From Con Artists 12/10/06 — Be on your guard against advisers selling fraudulent or unsuitable 403(b) investment products. [Kiplinger's] November 2006 Middlemen Take Bite Out of 401(k)s, 403(b)s, 457(b)s 11/27/06 — Some plans overcharge participants and employers by 100 percent or more. [John Wasik] Looking Back on 25 Years of Retirement Savings 11/20/06 — Are we moving forward fast enough to provide a secure retirement for all generations? [Paul Schott Stevens] Teachers, Did You Forget to do Your Homework on 403(b) Plans? 11/19/06 — Excerpt: Because the stakes are so high, you need to know what's inside your 403(b) plan. [San Diego Union] Milton Friedman Dies 11/17/06 — Economist touted laissez-faire policy (free login). [Washington Post] Coming Soon: The Next Wave of 401(k) Fee Litigation 11/16/06 — At least 17 additional major corporations are targeted. [Schlichter, Bogard & Denton] Oklahoma Teachers' Pension Not OK 11/15/06 — State plan is the third worst funded system nationally. [The News Courier] What Happens to Household Portfolios After Retirement? 11/15/06 — The typical older household in the United States now arrives at retirement with an array of financial resources. [Center for Retirement Research] Lucent Technologies 401(k): The Gold Standard for Retirement 11/8/06 — Excerpt: For Lucent, "very good" was just not good enough. [Treasury and Risk] October 2006 What is Best Age to Take Social Security? 10/29/06 — Excerpt: I assumed that later was better. [Washington Post] AIG VALIC to Disclose Fees 10/23/06 — AIG agrees to detail charges that it will levy in a new L.A. teacher retirement program. [LA Times] Employees Can Have Say in 401(k) 10/23/06 — Excerpt: In too many cases, a retirement plan is chosen for the convenience of the company's administration. [ContraCosta Times] IRS Announces Pension Plan Limitations for 2007 10/18/06 — Regular 403(b) contribution limits will rise to $15,500; age 50 catch-up remains $5,000. [IRS] ING to Give Teachers Refunds 10/12/06 — Union members steered into high-fee annuities will get $30 million in a New York agreement. [LA Times] The Pension Protection Act and 403(b) Arrangements 10/12/06 — Overview of PPA's impact on the 403(b). [McKay Hochman Co.] 401(k) Costs Are Breach of Trust 10/8/06 — Plan sponsors are accused of failing to fulfill fiduciary duty to make certain 401(k) plan operates with appropriate expenses. [Boston Globe] NJ Teacher Wins Fight on Retirement Fees 10/2/06 — Math teacher Bruce McNutt persuaded school board to add Vanguard 403(b) products. [John Wasik] September 2006 Overview of New 403(b) Regs 9/27/06 — Excerpt: Section 403(b) plans will look and feel different. [BDO Seidman, LLP] Boost for Retirement-Savings Efforts 9/26/06 — Labor Department proposes new rules making it easier for employers to enroll employees automatically in 401(k) and other retirement plans. [CBS MarketWatch] PPA Changes Affecting 403(b) and 457(b) 9/15/06 — The most important thing the Pension Protection Act did was to make EGTRRA permanent. [403b-457plansblog] 401(k), 403(b), 457(b) Hardship Withdrawal FAQs 9/15/06 — A retirement plan may, but is not required to, provide for hardship distributions. [IRS] CalSTRS Creates Framework for Long-term Full Funding 9/8/06 — No change to benefits but 1/2 percent increase in contributions among recommendations. [CalSTRS] Teach and Retire Rich Podcast 9/5/06 — The first Teach and Retire Rich podcast is now available. [Teach and Retire Rich] August 2006 IRS Delays New 403(b) Regs 8/29/06 — Excerpt: "Final regulations generally will not be effective earlier than January 1, 2008." [IRS] Pension Protection Act of 2006: IRAs, 403(b) and 457 Plans 8/21/06 — Overview of affect of Pension Protection Act of 2006 on IRA, 403(b) and 457. [Sutherland Asbill & Brennan] MEA Has Gone Away; Never to Rise Again! 8/9/06 — Summary of H.R. 4 — Pension Protection Act of 2006. [Citizens Bank & Trust] Target Funds + Auto Enroll + Auto Increase = Homerun 8/1/06 — Vanguard says putting all three in place gives employees best chance to effectively save for retirement (free login). [Plan Sponsor] July 2006 Waddell & Reed Settles Market Timing Charges 7/24/06 — Excerpt: Waddell & Reed's senior management knew timing activity was harming the firm's small investors (free login). [Plan Sponsor] PERA Predicts Brighter Financial Future 7/20/06 — Colorado Public Employees' Retirement Association to be fully funded by 2048 (free login). [Plan Sponsor] TSP Life Cycle Funds a Big Hit 7/18/06 — Excerpt: 9% of plan's participants have opted for them (free login). [Plan Sponsor] School System ahead of IRS on Streamlining 403(b) vendors 7/15/06 — School system streamlines 403(b) vendor list from 55 to 1. [403(b)wise] AXA Rep Threatens 403(b) Advocate 7/10/06 — Teacher who tried to educate colleagues about 403(b) got "threatening" e-mails from an AXA Equitable salesman. [NorthJersey.com] June 2006 NYSUT Changes 403(b) Policies 6/16/06 — Excerpt: Settlement with attorney general covers endorsements, disclosure of fees. [NYSUT] Survey on Sponsor Response to New 403(b) Regs 6/15/06 — Spectrem Group study reveals ways employers are preparing for new regs (free login). [Plan Sponsor] Spitzer-NYSUT Settle 403(b) Probe 6/13/06 — Union took payments from an insurance company to promote 403(b) product and took steps to conceal it. [Eliot Sptizer] Tax Exempt Organization Compensation Audits 6/12/06 — 403(b)/457(b) audit review and information. [ALI-ABA] Kentucky Warns Against Variable Annuities 6/8/06 — Excerpt: Be especially wary of any broker who wants to sell you a variable annuity to hold inside a 401(k) or IRA. [State of Kentucky] New 403(b) Regs Due by June 30 6/4/06 — Bob Architect of IRS says he expects the 403(b) regulations to be published by June 30, 2006. [Wolters Kluwer] May 2006 IRS 403(b) Info for Sponsors 5/24/06 — Common plan sponsor mistakes. [IRS] IRS 403(b) Info for Participants 5/24/06 — Common participant mistakes. [IRS] A Bad Marriage? Variable Annuities and 401(k) Plans 5/17/06 — To the insurance industry, it's a great idea; to critics, it's an outright scam. [Workforce Management] Hartford Admits Misconduct in Annuities Probe 5/11/06 — Company will pay $20 million in restitution and fines. [Office of NY State Attorney General] NY Probing 401(k) Plans and NYSUT/ING 403(b) 5/10/06 — Spitzer epected to reach settlement soon with NYSUT over its ING endorsement deal (free login). [LA Times] Spitzer Cancels Speech to Teacher's Union 5/7/06 — Spitzer is looking into NYSUT's 403(b) arrangement with ING. [Newsday] Sponsors Report Mixed Feelings About 403(b) Changes 5/5/06 — Fidelity Investments survey reveals concern about effects of new 403(b) regulations. (free login). [Plan Sponsor] FERA Letter to Spitzer 5/3/06 — The Foundation for Educational Reform & Accountability letter asking Eliot Spitzer to look into NYSUT/ING 403(b) arrangement. [FERA] Unions Criticized Over 403(b) 5/2/06 — State Attorney General Eliot Spitzer may look into New York NYSUT deal. [Newsday] Where's the Value? 5/1/06 — Educator questions the value of the NEA Valuebuilder 403(b) product. [403(b)wise] April 2006 LA Times Retirement Plan Series 4/25/06 — Topics include: 403(b) woes, 401(K) Q&A, annuity abuse, fee impact, and broker conflicts (free login). [LA Times] Unions' Advice Is Failing Teachers 4/25/06 — Labor groups have joined forces with investment firms to steer members into savings plans that often have high expenses and poor returns (free login). [LA Times] Fees Eat Away at Employees' 401(k) Nest Eggs 4/23/06 — Obscure deductions are quietly eroding savings (free login). [LA Times] Annuities and the 401(k) 4/20/06 — Excerpt: It is important that annuities are available to people who are retiring... I do not think that the cost-benefit analysis justifies having annuities in a 401(k) plan (free login). [PlanSponsor] 401(k) Education Not Effective 4/18/06 — Perceived failure is a major reason investment advice has become increasingly popular (free login). [PlanSponsor] AIG VALIC Selected Sole 403(b) Provider by Richmond Public Schools 4/15/06 — Excerpt: AIG VALIC offered our employees the most competitive program bid based on service and on fees. [AIG] WV Teacher Challenges DC to DB Switch 4/12/06 — Lawsuit aims to stop merger of current DC plan with Teachers' Retirement System (free login). [PlanSponsor] Investors Don't Understand Impact of Fees 4/11/06 — Excerpt: investors often buy high-cost funds even though they sense they may be making a mistake. [Yale] When Your Paycheck Stops 4/10/06 — Ready to retire? Better make sure you can afford it. [Newsweek] WV Teachers Vote to Return to DB Plan 4/4/06 — West Virginia teachers voted to leave DC accounts and return to a defined benefit plan. [NCPERS] March 2006 Why Are Healthy Employers Freezing Their Pensions? 3/23/06 — Excerpt: the pension landscape has changed. [Center for Retirement Research] Vanguard Introduces New Target Date Funds 3/21/06 — Vanguard will add target date funds for years 2010, 2020, 2030, 2040, and 2050 to its lineup (free login). [PlanSponsor] Retire Happy 3/15/06 — SmartMoney shows you how to navigate the new three-act retirement. [SmartMoney] AIG VALIC Leaps into Roth Arena 3/8/06 — AIG VALIC rolls out Roth 403(b) account (free login). [PlanSponsor] Plan Would Fix Pension Fund 3/1/06 — Fix proposed for dramatically underfunded Minneapolis Teachers' Retirement Fund Association. [Pioneer Press] February 2006 Employer Won't Match Low-Cost Investment 2/26/06 — Massachusetts hospital will match 403(b) contribution to variable annuity, but not to Vanguard products. [403(b)wise] Trying to Tame Annuity Sales 2/12/06 — Excerpt: it sounds good on its face, but for most people "a tax-deferred annuity never makes sense." [LA Times] Retirement Plan Fees Drop 2/1/06 — Competitive pressure, regulatory scrutiny among reasons for lower costs. [Benefit News] January 2006 IRS Clarifies Roth Accounts Tax Liability 1/26/06 — New rules to clarify how distributions from Roth 403(b) plans are to be taxed. (free login). [PlanSponsor] Proposed Rules on Roth 403(b) Contributions 1/25/06 — Treasury and IRS release proposed rules regarding designated Roth 403(b) contributions. [Treasury] Debate on Terminating Public DB Plans 1/19/06 — Pros and cons of ending DB plans (free login). [PlanSponsor] A Word to Wise on Roth 401(k)/403(b) 1/13/06 — Roth 401(k)/403(b) is now a reality. But that reality still comes with unanswered questions and cautionary notes [CBS MarketWatch] Tax law changes for 2006 1/12/06 — Every January, a wide variety of taxes and tax benefits go up or down as a result of inflation or changes in tax law. [San Francisco Chronicle] Resolve to Simplify Investing 1/9/06 — Simplify savings and reduce costs in 2006 with target date retirement funds. [403(b)wise] 403(b) Contribution Limits Rise 1/3/06 — The new elective deferral limit for 2006 is $15,000; age 50 catch-up rises to $5,000. [403(b)wise] December 2005 School Districts Beware 12/13/05 — The perfect storm is developing in the 403(b) world... [Teachers Advocate] CalSTRS Again Rejects Pension Reform Measure 12/12/05 — CalSTRS Board votes to oppose new legislation that would close DC plan to new hires (free login). [PlanSponsor] November 2005 EIAs: Friend or Foe? 11/30/05 — Why is it that when most investors hear the word "equity index annuity" they recoil as if facing the plague? [403(b)wise] Teachers' Investment Plans Flunk 11/9/05 — Fees are outrageous, there's no match and there's no oversight. [MSN] Trolling for 401(k) Treasure 11/1/05 — Congress expected to allow financial advisors to work with participants in company retirement programs. [Registered Rep] October 2005 Plan Features Offer Little Incentive to Participate 10/25/05 — Study finds that employer match, liquidity, and investment features in 401(k) plans have little effect on participation or contribution rates (free login). [PlanSponsor] Singing the 403(b) Blues 10/24/05 — End of 90-24 coming. This story available for fee online or in November print edition. [Kiplinger] IRS Announces Pension Plan Limitations for 2006 10/14/05 — IRS announces cost-of-living adjustments applicable to dollar limitations for pension plans and other items for 2006. [IRS] What Every Investor Should Know About Mutual Funds 10/14/05 — Some of what follows distills the collective experience of mutual fund investing... [AAII] SEC Launches Site for Teachers 10/11/05 — "Just for Teachers" investing site aimed at K-12 teachers. [SEC] 403bcompare.com Wins Award 10/10/05 — Web-based tool which allows participants to compare 403(b) costs and performance is honored. [CalSTRS] September 2005 Monkey Business 9/28/05 — The difficulty of beating the market. [SmartMoney] Why Women Face a Retirement Crisis 9/19/05 — From living longer to earning less women face tough realities. [MSN] How to Improve Teacher Benefits in Georgia at No Cost 9/19/05 — Make state-run Peach State Reserves retirement plan available to all. [Gerry Born] 403(b) Regs Delayed 9/14/05 — IRS officials report that proposed 403(b) regs will not be effective before January 1, 2007. [403(b)wise] The Best Place for Retirement Funds 9/6/05 — Turns out location, location, location isn't just about real estate. [Harvard Business School] Roth 401(k) in 2006? Not that likely 9/6/05 — Employers aren't rushing to offer new retirement perk. [CBS MarketWatch] August 2005 The Other Side of the 403(b) Story 8/29/05 — NTSAA rebutts Wall Street Journal story. [403(b)wise] To Be or Not To Be a 403(b) (pdf) 8/26/05 — Overview of the proposed IRS regulations. [Gardner Carton & Douglas] Complying with the New IRS 403(b) Regulations (pdf) 8/26/05 — Information conference will be held November 14, 2005 in San Diego. [Financial Research Associates] Teachers Have Few Defenses When Investing in 403(b)s 8/25/05 — Plans rife with problems; teachers often lose out. [Pittsburgh Post-Gazette] 90-24 Transfers To Disappear 8/22/05 — Clock is ticking on ability to move 403(b) money to an outside-of-plan vendor. [403(b)wise] Back-to-School Financial Checklist for Teachers 8/22/05 — Beginning of school year is a good time to get financial house in order. [403(b)wise] Equity-indexed Annuities Scrutinized 8/11/05 — "Some of the pitches are appalling," says NASD Vice Chairman Mary Schapiro. [USA Today] Five Big Distribution Traps (free login) 8/4/05 — The costly mistakes can hamper retirement-savings withdrawals. [MarketWatch] July 2005 Are Fund Expenses Too High? (free login) 7/31/05 — Morningstar study says costs in 13 of top 20 fund families have increased. [MarketWatch] Alaska Public Pension Plans Switching From DB to DC (free login) 7/28/05 — Bill that would switch Teachers Retirement System to 401(k) type plan. [PLANSPONSOR] Vermont Commission to Study Teachers Pension (free login) 7/25/05 — State treasurer thinks there's still time to save the fund from "going off the cliff." [PLANSPONSOR] Status of 403(b) Regs 7/18/05 — Ellie Lowder and Kristi Cook meet with IRS about new 403(b) regs. [NTSAA] Evaluate 403(b) Plan Sooner, Not Later 7/10/05 — Impending rule change to 403(b) will limit investment options. [Yahoo! News] NEA Head Calls for $40,000 Starting Salaries 7/4/05 — NEA president to fight for higher pay for starting teachers, veteran instructors and classroom aides. [SignOnSanDiego] 403(b)ill of Rights 7/4/05 — We the people of the 403(b) plan, in order to form a more perfect retirement vehicle... [403(b)wise] June 2005 Kill Social Security Privatization; Reform 401(k)s 6/21/05 — Time to abandon the Bush private account plan and consider alternatives. [John Wasik] Figuring Fees and Explaining Expenses (free login) 6/20/05 — Fees and expenses continue to be a hot topic for the Department of Labor and fiduciaries. [Plan Sponsor] Less is More (free login) 6/13/05 — Survey: Road to DC happiness includes fewer investment options, advice. [Plan Sponsor] Public Workers Under Fire (free login) 6/9/05 — America has a problem with its public employees. They are not downwardly mobile enough. [The Washington Post] Van Kampen Delivers a Blow to 403(b) Reps (free login) 6/6/05 — Firm eliminates sales load that reps collect on mutual funds sold in 403(b)s. [Investment News] Participants Not Playing Catch-up 6/6/05 — Report: only 13% of eligible plan participants made age 50 catch-up contributions in 2004. [Vanguard] Financial SOS from a New Teacher 6/2/05 — The only thing "CD" means to Matt, 23, is an outdated musical format. [403(b)wise] May 2005 Comments on 403(b) Regs (pdf) 5/24/05 — National Sales Director for Retirement Marketing Specialists comments on 403(b) regs. [403(b)wise] Automatic Signup In 401(k)s Backed 5/22/05 — Provision eyed for Social Security bill. [The Washington Post] Study Hints At Advisor Bias on Pensions 5/17/05 — Many retirement plan consultants have ties to providers. [The Washington Post] W. Virginia Closes DC Plan to New Hires (pdf) 5/12/05 — Bucking a recent trend, W. Virginia switches back to a defined benefit plan. [nctr.org] Beat the Drums if You Want a Roth 5/8/05 — Jan. 1 employers may offer Roth 401(k) / Roth 403(b). [The Washington Post] 403(b) Stakeholder Challenges 5/5/05 — What obstacles do the financial industry, employers, employees, the IRS and unions face? [403(b)wise] 403(b) Market Stats 5/3/05 — Market statistics for years 1999 - 2004. [403(b)wise] Teach and Retire Rich feedback 5/3/05 — Read what teachers and John Bogle are saying about Teach and Retire Rich. [403(b)wise] April 2005 Time To Stop Blaming Agents? 4/25/05 — How fair is it to blame agents for state of 403(b)? [403(b)wise] Managing Retirement, Automatically 4/18/05 — Investors can select a mutual fund that will automatically adjust their investment portfolios. [The Washington Post] Fleecing Teachers 4/11/05 — Some of the biggest names in insurance — AIG, ING, AXA, MetLife — peddle lousy retirement plans to teachers. One and a half million teachers blithely signed up for these dogs — often with their unions' blessing [Forbes] Schwarzenegger Pulls Back on Pension Reform 4/8/05 — California governor backs off plan to privatize California's public employee pension system. (free login) [Plan Sponsor] 401(k)s May See Better Investment Options 4/6/05 — Poor 401(k) performance has led some employers to improve the way they choose investment options. [SmartMoney] March 2005 West Virginia House Votes to End Personal Accounts 3/31/05 — The bill would send all new hires into the state's older Teachers Retirement System. [herald-dispatch] 403(b)etter or Worse? 3/31/05 — Big changes could be coming to the 403(b) in 2006 (free login). [Motely Fool] Can Cyber Shopping Improve Faulty Retirement Plans? 3/28/05 — California's www.403bcompare pulls the veil of secrecy off of 403(b) fees. [John Wasik] Teach and Retire Rich Now Shipping 3/28/05 — New book explains how to reap intrinsic and extrinsic rewards of teaching. [teachandretirerich.com] Sure thing? Better to Avoid Equity Index Annuities 3/20/05 — When you look closely at EIAs — and most people don't bother — the blemishes are clearly visible. [San Diego Union] Alaska Proposes DC Plans for Teachers 3/15/05 — Following California lead, Alaska proposes replacing pension plan with DC plan (free login). [Plan Sponsor] Buffett's Tips: Don't Overtrade, or Panic 3/13/05 — Excerpt: "An index fund that they never touched would have done the job." [The Washington Post] ASPPA Comments on 403(b) Regs 3/12/05 — American Society of Pension Professionals and Actuaries comment on proposed 403(b) regs. [ASPPA] School Districts Would Be Wise to Adopt a 403(b) Plan Document 3/7/05 — School business official explains how a plan document benefits employer and employee. [403(b)wise] February 2005 Schwarzenegger, Unions Clash Over Pension 2/22/05 — California teachers, firefighters and other workers worried about their retirement [The Washington Post] Leading Annuity Companies Comment on 403(b) Regs (pdf) 2/11/05 — AXA Financial, ING, TIAA-CREF and others comment on proposed 403(b) regs. [groom.com] NTSAA Comments on Proposed 403(b) Regs (pdf) 2/11/05 — Prepared by NTSAA advisors Kristi Cook, J.D., and Ellie Lowder, MCRS. [NTSAA] Official Launch of 403bcompare.com (pdf) 2/9/05 — Powerful website allows visitors to pull up free, objective information about 403(b) products. [CalSTRS] Teachers Get Harsh Lesson on Investing 2/1/05 — Excerpt: "This whole system needs to change... teachers are pretty much being thrown to the wolves." [SignOnSanDiego] January 2005 A Gold Mine in Low Fund Fees 1/31/05 — If you're smart enough to save on broker fees for your mutual funds, you can retire after 30 years of low-cost investing with 64 percent more. [Newsweek] Neglect That Spells Retirement Ruin 1/24/05 — New survey: only 12 percent of employees understand their retirement benefits. [The Washington Post] Autopilot 401(k) Plans 1/22/05 — Research from the field of behavioral finance suggests that many participants in defined contribution plans are not active, self-motivated decision-makers. [Vanguard] Risk-Reward Gamble 1/17/05 — Push for "ownership society" is in full swing. [The Washington Post] Brokers Pushing Variable Annuities in Retirement Accounts 1/10/05 — The conventional wisdom holds that variable annuities don't belong in tax-deferred retirement plans. [On Wall Street] Calif. Voters May Face Choice to Change State Pensions to 401(k) plan 1/6/05 — In a significant echo of President Bush's plan to privatize part of Social Security, Gov. Arnold Schwarzenegger called Wednesday for privatizing two of the nation's largest public pension systems. [SFGate.com] State Pension Revamp Sought 1/5/05 — California Governor Arnold Schwarzenegger is set to propose replacing the defined-benefit model with one similar to a 401(k). [Sacramento Bee] Teach and Retire Rich 1/1/05 — New book by 403(b)wise details how educators can teach and retire rich. [403(b)wise] 403(b) Contribution Limits Rise 1/1/05 — Regular limits rise to $14,000; age 50 catch-up rises to $4,000. [403(b)wise] December 2004 Breaking Up is Hard to Do 12/22/04 — Exiting a variable annuity proves arduous and expensive for husband-and-wife educators. [403(b)wise] To Be or Not To Be a 403(b) (pdf) 12/20/04 — Proposed 403(b) regulations contain many new components. [Gardner Carton & Douglas] How the Grinch Stole the 403(b) 12/14/04 — Every 403(b) investor liked no-load mutual funds a lot... But the Grinch, who served as benefits director, Did NOT! [403(b)wise] 403(b) and 457 Side-by-Side Comparison from the IRS (pdf) 12/13/04 — Compare features of retirement plans (including 401(k) plans) for tax exempt and government employers. [IRS] 403bcompare.com Launches 12/2/04 — California 403(b) participants can now get clear 403(b) vendor, fee and surrender charge information. [403(b)wise] November 2004 When Every Basis Point Counts 11/30/04 — Businesses and their employees are paying close attention to the costs associated with their retirement plans. [Business Finance] Summary of Proposed 403(b) Regulations (pdf) 11/16/04 — Proposed rules consolidate statutory changes, previous IRS rulings, and administrative practice into one set of guidance. [Citizens Bank] Treasury and IRS Propose New 403(b) Regulations 11/15/04 — First comprehensive guidance on 403(b) plan in 40 years. [Department of Treasury] Coaching Versus Classes: How to Package Financial Education 11/11/04 — How do you package financial education to make it compelling for employees? [BenefitNews] Take Social Security at 62? 11/5/04 — What is the best course of action when it comes to taking Social Security? [Motley Fool] October 2004 Ohio Acts Against Flagship Administration 10/12/04 — State alleges misappropriation of 403(b), 457 and 401(k) pension money. Story by ex-employee. [403(b)wise] The Worst Retirement Investment You Can Make 10/11/04 — By all rights, variable annuities should be dead by now... [MSN Money] Brokers Set Sights on Booming 403(b) Market 10/10/04 — A teacher hiring boom is attracting attention from broker-dealers and financial advisers (registration required). [InvestmentNews] Annuities Load 401(k)s with Fees 10/4/04 — A whopping 35% of your profits may be going to cover plan fees, which often include annuities you didn't know you had. [MSN Money] September 2004 Virginia County School District Picks Providers For 457, 403(b) Plans 9/17/04 — The Fairfax County (Va.) Public School System has picked a slew of new 403(b) and 457(b) providers. [DC News] Teachers' 403(b) Plan Nonvirtues 'Extolled' 9/13/04 — Millions of teachers are stuck with horrific 403(b) choices that gouge them with frighteningly high expenses. [San Diego Union] One Faulty Investment 9/9/04 — You rarely find me so deeply angry at a common investment product that I dream of blowing it to smithereens... [Jane Bryant Quinn] August 2004 Give Teachers a Break 8/30/04 — Tax cuts for the rich but we can't help teachers with supplies? [The Washington Post] Millionaire Teachers Next Door 8/26/04 — Educators' savings plans grow bigger nest eggs. [CBS MarketWatch] Fiduciary Education Campaign 8/25/04 — New government program to educate employers about fiduciary duties. [Department of Labor] Faculty Retirement Incentives in Academia (PDF) 8/23/04 — End of mandatory retirement has forced colleges and universities to get creative with retirement inducements. [TIAA-CREF Institute] Fiduciary Responsibilities Coming Into Focus for Employers 8/22/04 — Excerpt: "Rules governing fiduciary responsibility require those who manage others' money to walk the straight and narrow." [The Oregonian] A Look at Plan Fees for Employers 8/17/04 — A resource to help employers better understand retirement plan fees and expenses. [Department of Labor] Fee Study Reaffirms Bogle Fund Research on Fund Costs (Again) 8/13/04 — Standard & Poor's study reaffirms impact of fund fees. [Index Universe] Clueless Retirement Plan Fiduciaries 8/9/04 — In short the fiduciaries are simply failing to do their job as required by the law and good common sense. [Frank Armstrong] Retired Teachers Work to End Social Security Pension Limits 8/5/04 — Retired teachers argue the Social Security system is hanging them out to dry. [Santa Cruz Sentinel] Retired Teachers Work to End Social Security Pension Limits 8/5/04 — Retired teachers argue the Social Security system is hanging them out to dry. [Santa Cruz Sentinel] July 2004 On the Annuities Alert 7/26/04 — When it comes to variable annuities the SEC and NASD say: Watch your back. [The Washington Post] Middlemen Have Hands in Your U.S. Retirement 7/13/04 — What's your retirement plan really costing you when all the fees and commissions are subtracted from your returns? [Bloomberg] 403(b) Wary? 7/6/04 — Market-timing investigations reopen the debate about annuities' role. [PlanSponsor.com] The 403(b)ill of Rights 7/1/04 — We the people of the 403(b) plan, in order to form a more perfect retirement vehicle... [403(b)wise] June 2004 IRS Plans to Issue Guidance Regulations for 403(b) Plans 6/23/04 — Sources say IRS to make major update to 403(b) rules and regulations for first time since 1964. [Financial-Planning.com] More Disclosure for California 403(b) Plans 6/16/04 — Coming this summer, California will require product registration for 403(b) plans on an open-access consumer portal. [Financial-Planning.com] NASD Issues Report on Variable Annuities 6/9/04 — Examinations identify sound and weak practices regarding suitability and disclosure. [NASD] Does Your 401(k)/403(b) Cost Too Much? 6/3/04 — Fees can take as much as 3% of an account each year. Watch out for conflicts of interest. [BusinessWeek] May 2004 5/26/04 — New Feature: 403(b) Stories Twenty years ago a principal urged Joe, a Los Angeles teacher, to start a 403(b) plan. It was great advice. Today, his balance stands at more than $250,000. [403(b)wise] Invest Time to Learn Long-Term Impact of Retirement-Fund Fees 5/25/04 — Adrian Nenu's struggle shows why there should be employee education combined with disclosure of all fund expenses. [Seattle Times] Teachers Feel Forced Out by Benefit Law 5/25/04 — Government Pension Offset continues to hurt teachers. [Times Record News] 403(b)/457 Agents Up In Arms 5/20/04 — Some are protesting new ING 403(b)/457 variable annuity product called AFT Choice Plus. [Advisor] April 2004 NASD Proposes Specific Requirements for Deferred Variable Annuity Sales 4/26/04 — Concerns over suitability, disclosure, supervision cited. [NASD] Guidance on 403(b) Automatic Enrollment 4/21/04 — New IRS guidance allows considerable flexibility. [Gardner Carton & Douglas] Nonprofits Urged to Pick Retirement Plans Carefully 4/20/04 — Retirement-plan experts say nonprofits should do their homework in picking a retirement plan. [Philanthrophy Journal] 403(b)wise Addresses School District 4/19/04 — 403(b)wise addressed New Canaan Public Schools about the value of the 403(b). Teacher comments included: "I learned this is absolutely something I need to do — soon!" [403(b)wise] Mutual Funds Fees Hard to Decipher 4/11/04 — Excerpt: "It is no surprise that 71 percent of non-retirement mutual fund investors seek advice." [The Washington Post] Is Your Retirement Plan Gouging You on Fees? 4/5/04 — Excerpt: "It's likely that few employees even know if they are being overcharged." [Bloomburg] Rolling Out Automatic 401(k) Enrollments 4/4/04 — In effort to boost savings new workers are enrolled upon employment. [The Washington Post] Teens Exhibit Dismal Grasp of Economics 4/2/04 — When it comes to managing dough, there's too much duh. [St. Petersburg Times] March 2004 Rebuttal to: "Do Annuities Makes Sense Inside a 403(b) or 457(b)?" 3/31/04 — Ellie Lowder, MCRS, a veteran independent consultant in the 403(b) market segment rebuts several points made in a story questioning the use of annuity products. [403(b)wise] Teachers Seek End to Social Security Penalty 3/25/04 — Social Security system penalizes teachers and other public employees in retirement. [Star-Telegram] 'Alarming Abuses' in Credit Counseling 3/24/04 — Senate panel issues scathing comments on agencies it probed. [The Washington Post] Social Security Isn't Doomed 3/23/04 — But too many people now think it is. That's why supporters can't just lie back and say it will all work out. [Newsweek] Under Investigation: Variable Annuities 3/15/04 — Variable annuities are the latest financial product in hot water. [Wall Street Journal] What's Wrong With Variable Annuities? 3/15/04 — Variable Annuities are sold more aggressively than fake Gucci handbags on the streets of New York City. [Smart Money] Retirement Clock Ticking 3/8/04 — Top 10 ways to beat the clock and prepare for retirement. [US Department of Labor] Do Annuities Make Sense in a 403(b)? 3/8/04 — The low down on annuities inside a 403(b). [403(b)wise] Congress Closes "Last Day" Teacher Social Security Loophole 3/2/04 — HR 743 has three key provisions that impact public sector employees. [NCPERS] February 2004 Happy Birthday IRA 2/29/04 — IRAs, which came into being as part of the 1974 Employee Retirement Income Security Act, turn 30. [The Washington Post] The 403(b) at Divorce or Death 2/26/04 — What happens to a 403(b) upon divorce or death? [403(b)wise] How Envoy Hurts Teachers 2/25/04 — Teacher: "I am so frustrated that financially devastating restrictions are being placed on my own money." [403(b)wise] Can a Doctor Participate in a 403(b) and 401(a)? 2/23/04 — What IRS limits must be considered with respect to both plans? [BenefitsLink] 401(k) + 403(b) = Caution 2/19/04 — Individuals who participate in both a 401(k) plan and a 403(b) plan must take into consideration how the 402(g) limit and the 415 annual additions limit are applied. [McKay Hochman] State of California Rules Against Envoy 2/18/04 — In exchange for not charging school districts directly Envoy Plan Services charged vendors. The California Attorney General ruled against this arrangement. [Scott Dauenhauer, CFP] New Light on Hidden Fees 2/16/04 — What do you really pay for your mutual fund? Even if you tried to find out, you couldn't do it. [Newsweek] Measure Shuts Teachers' Social Security Loophole 2/11/04 — Bill to close a loophole in federal law that allows Texas teachers to keep their own state pensions and the full Social Security benefits of deceased spouses. [Houston Chronicle] Employers are Paying Closer Attention to 401(k) Fees 2/10/04 — Excerpt: "A 2003 survey by Deloitte & Touche revealed a disconnect between what employers thought about expenses and what they actually knew." [Dow Jones News Service] Don't Call Spitzer on 403(b), 457 Mutual-Fund Abuse 2/9/04 — As regulators start to investigate variable annuities, a great place to begin would be broker-sold mutual funds within retirement-plan annuity contracts. [John Wasik] ERSA 2.0 and the 403(b) 2/9/04 — Latest reincarnation of ERSA may not be a panacea for 403(b) participants. [403(b)wise] 'Life Cycle' Funds Can Keep Their Balance Over Time 2/8/04 — Life cycle funds "operate on a sort of automatic pilot that takes most decisions out of investors' hands." [The Washington Post] SEC Studies Legality of Fees at Some Index Funds 2/7/04 — Federal regulators are investigating whether several major fund companies charged annual fees up to 10 times what competitors charged. [The Washington Post] How Variable Annuities Can Gnash Investors 2/6/04 — Excerpt: The way annuities are sold could soon become more of a focus of federal regulators. [Quicken] Key Thoughts on RSAs and LSAs 2/4/04 — Excerpt: there is unlikely to be much effect on private saving, but national saving could fall if higher deficits result. [Urban Institute] Opinion: Bush Proposals Would Frustrate Long-Term Savers 2/3/04 — New proposals will add several new layers of complexity and frustration for every taxpayer. [John Wasik] ASPA Weighs in on Savings Plans 2/3/04 — The American Society of Pension Actuaries breaks down new savings plans. [ASPA] Retirement Savings Plans Resurface 2/2/04 — 2005 budget includes LSA, RSA, and ERSA, and new Individual Development Accounts. [Treasury Department] January 2004 House Introduces Legislation Allowing State Workers to Contribute to 403(b) 1/30/04 — HR 3718, which if passed would allow state government workers to contribute to 403(b) plans. [Financial-Planning.com] The Teachers' Advocate 1/30/04 — Compilation of teacher-related financial stories by planner and teacher advocate Scott Dauenhauer, CFP. [Meridian Wealth] Bill Introduced to Allow State Employees to Contribute to 403(b) 1/29/04 — HR 3718 was introduced by Virgil H. Goode Jr. (R-Virginia). [457bwise] Opinion: 403(b) Plan from Hell 1/29/04 — The City of New York, the UFT and the 403(b). [403(b)wise] Bush Retirement-Savings Plans to Resurface in February 1/28/04 — RSA and LSA plans will be unveiled in the president's Feb. 2 budget, Treasury Department says. [Seattle Times] NY City Teachers Have Choices 1/21/04 — NY City Teachers are no longer compelled to "take it or leave it" when it comes to pre-tax retirement savings plans. [403(b)wise] Fund Fees Vital but Need Review, Lipper Says 1/19/04 — Lipper's team also proposed a radical shift in the way 12b-1 fees are assessed. [The Washington Post] Variable Annuities: Beyond the Hard Sell 1/16/04 — Excerpt: "Investing in a variable annuity within a tax-deferred account ... may not be a good idea." [NASD Investor Alert] NASD charges Waddell & Reed 1/14/04 — Regulators allege the company improperly urged customers to switch variable annuity contracts. [CNNMoney] Boomers Running Out of Time/Excuses to Save 1/12/04 — Baby boomers have plenty of retirement excuses — some of them even good [SunSpot] IRS Set to Update 403(b) Regs 1/7/04 — Update will occur during next six months and be first since 1964. [403(b)wise] IRS Updates Publication 571 1/5/04 — Publication 571 is the IRS document detailing the rules of the 403(b). [IRS] 403(b) Contribution Limits Rise 1/1/04 — Regular limits rise to $13,000; age 50 catch-up rises to $3,000. [403(b)wise] December 2003 Willful Ignorance: The Mutual Fund Investor 12/25/03 — Most mutual fund investors don't know how much they're paying to have their money managed. What's worse is that they mostly don't care. [MSNBC] The 403(b) and Bankruptcy 12/24/03 — Non-trust plans not protected from creditors according to 6th Circuit Court of Appeals. [403(b)wise] How the Grinch Stole the 403(b) 12/15/03 — Every 403(b) investor liked no-load mutual funds a lot... But the Grinch, who served as benefits director, Did NOT! [403(b)wise] Addition to NYSUT Story 12/15/03 — Union critic Joel L. Frank updates "NYSUT Has It Both Ways" story. [403(b)wise] Congress Moves to Plug Texas Teacher Loophole 12/11/03 — Texas teachers would lose extra retirement benefits. [Houston Chronicle] NYSUT Rebuttal 12/9/03 — Union responds to "NYSUT Has It Both Ways" story. [403(b)wise] Drive Renews for Tax-Free Savings Accounts 12/6/03 — Treasury will again push for RSA and LSA accounts. [The Washington Post] 403(b) Catch-up Confusion? 12/5/03 — Excerpt: IRS mandates that "15 year rule" be applied before "age 5O" catch-up. [Citizens Bank & Trust] Counting the Costs of Fund Fees 12/4/03 — Investigators' attention turns to legal, lucrative 'advertising' charge. [The Washington Post] The Real Fund Rip-Off 12/3/03 — Mutual-fund scandals grab headlines, but the bigger bite is heavy-duty fees. [Time] Debt Can Bankrupt Retirement 12/2/03 — Excerpt: Americans 50 and older are in much more trouble than anyone is willing to admit. [Scott Burns] November 2003 403(b) and 457 Fiduciary Liability 11/25/03 — Employers take note: plan sponsors must act quickly to properly protect themselves against allegations of fiduciary liability. [403(b)wise] How Much Should a Person Save for Retirement? 11/25/03 — Research paper describes need to begin saving early and to contribute ample amounts. [TIAA-CREF Institute] Leave No Teacher Behind 11/18/03 — Suggestion: forgive all teachers of their federal income tax. [The Washington Post] Retiring Superintendent Gets $20,000 Salary Hike 11/12/03 — Illinois school district has done what many other districts do with retiring superintendents: give a big raise. [The Star] Opinion: NYSUT Has It Both Ways When It Comes to Retirement Plans 11/11/03 — New York State United Teachers endorses two high-fee 403(b) products. However, the union makes available a low-cost 401(k) for its employees. [403(b)wise] Retirement Storm Clouds 11/6/03 — It's not the economy or the stock market, but faulty assumptions that could rain on your retirement. [Money] October 2003 ERSAs on Comeback Trail 10/31/03 — Bush Administration poised to push its new breed of retirement savings programs next year. [PlanSponsor.com] The RFP Process 10/30/03 — What are the right questions to ask when conducting an RFP? [403(b)wise] The Best K-12 403(b) in the Nation? 10/29/03 — Employees of Littleton Public Schools in Colorado have access to one low-cost vendor, access to both a 457(b) and a 401(k), and get a match. [403(b)wise] Teachers' Tax Break Will Soon Be History 10/24/03 — School's only recently back in session, but teachers are about to lose a tax break that was just granted to them last year. [TheStreet.com] Alarming Fall in Retirement Plan Participation 10/23/03 — New data reports decline in participation in private sector retirement plans and availability of such plans. [401khelpcenter] A Reason for Teachers to Dance 10/16/03 — Thanks to EGTRRA, teachers can sock away $24,000 a year in defined-contribution plans in 2003. [Motley Fool] Escape From a Bad Retirement Plan 10/10/03 — 403(b) participants are using a special IRS ruling to transfer into better investment choices. [Kiplinger's] Do We Have a Retirement Crisis in America? 10/6/03 — A summary of the findings on the state of retirement income security in the United States. [TIAA-CREF Institute] The Teacher's Advocate 10/6/03 — Certified financial planner and teacher advocate Scott Dauhenauer writes about financial issues unique to educators. [Scott Dauenhauer] 403(b) Market Statistics 10/1/03 — Latest 403(b) statistics show that mutual fund participation has increased by 4 percent while fixed annuity participation has declined by 5 percent. [403(b)wise] Know Your Rights as a 403(b) Investor 10/1/03 — Investor-rights advocate and author Bruce Sankin outlines how 403(b) investors can become aggressive consumers. [403(b)wise] September 2003 Missionary Man 9/29/03 — Teacher advocate and financial planner Scott Dauenhauer is on a mission to get K-12 districts to wise up about the 403(b). [Teacher$Talk] Panel Hears Complaints About Laws That Cut Retirement Checks 9/25/03 — Complaints from retirees have prompted several members of Congress to sponsor bills that would repeal or modify laws that reduce benefits. [The Washington Post] Looking for Deeper Pockets, Teachers Dip Into Their Own 9/19/03 — Teachers spend an average of $589 of their own money on school supplies and instructional materials, according to a new survey. [FOX] 403(b)wise Designates First k-12 403(b) As Model Plan 9/16/03 — Blue Valley Schools in Overland Park, Kansas, allows employees to invest in no-load mutual funds, no-load annuities and representative based products. Participation in the 403(b) plan is nearly 20 percent higher than typical k-12 public school plans. [403(b)wise] 403(b) Advocate Seeks Seat on CalSTRS Retirement Board 9/16/03 — LAUSD teacher Steve Schullo favors: repeal of the Social Security offset rule, increasing the retirement earnings formula, expanding CalSTRS' use of low-cost index investments, and full implementation of reform bill AB 2506. [403(b)wise] Feeding the 401(k), Even in Bad Times 9/14/03 — Last year, as the stock market was losing roughly a quarter of its value, a new study shows that workers' 401(k) balances, on average, finished the year down by only single digits, and the accounts of young workers actually grew. [The Washington Post] TIAA-CREF 457(b) Selected in LA 9/4/03 — TIAA-CREF has been chosen as the exclusive 457(b) retirement plan provider for the Los Angeles Community College District and the Los Angeles County Office of Education. [TIAA-CREF] Pilot Program Makes 403(b) Savings Automatic 9/4/03 — Employees sign a salary reduction agreement that automatically increases the percentage of salary saved for retirement each year at a fixed contribution rate. [TIAA-CREF] Back-to-School Financial Checklist for Teachers 9/2/03 — While it is critical to have lesson plans and activities in order for the students, it is equally critical that teachers put their financial lesson plan in order as well. [403(b)wise] August 2003 Mutual Fund Expenses Can Add Up 8/31/03 — Some mutual funds have annual expenses of 2 to 3 percent. During better economic times that didn't seem so unreasonable. [St. Petersburg Times] Don't Like Your Employer's Plan? There Are Alternatives 8/27/03 — As long as the recent tax cuts for investment income last there are some very attractive alternatives to company sponsored retirement plans. [Scott Burns] IRS Issues Final Catch-Up Contribution Rules 8/27/03 — Excerpt: "This information applies to sponsors of 401(k) plans, 403(b) programs and governmental section 457 plans that allow participants age 50 and older to make catch-up contributions." [CIGNA] Oregon Passes Pension Plan For Teachers 8/26/03 — Future teacher hires will earn a pension that is 45 percent of their final salary after 30 years. Additionally a 401(k) style account will also be available. [Oregon Live] Why Variable Annuities No Longer Make Sense 8/25/03 — You can easily buy cheaper life insurance and mutual funds outside of the annuity package. A low-cost, stock-index fund within a 401(k) — or 403(b) — plan could cost as little as 0.18 percent per year. [John Wasik] Variable Annuities Have Both Fans and Failings 8/20/03 — A recent column on variable annuities provoked the predictable torrent of hate mail from those who sell the product. [Scott Burns] The 403(b), FICA, and the IRS 8/19/03 — IRS chief counsel legal memorandum explains why 403(b) deferrals under state's plan are subject to FICA. [IRS] False Advertising: The Truth About 12b-1 Fees 8/13/03 — In 1990 investors paid $1.23 billion in 12b-1 fees. In 2002 they paid $9.38 billion. [TheStreet.com] Many Retirees Select Lump Sum 8/8/03 — Pros and cons of lump sum retirement payout vs. lifetime annuity. [USA Today] July 2003 In Testy Session House Committee Approves Portman-Cardin 7/18/03 — Bill would allow individuals to contribute $15,000 to 403(b), 457(b) and 401(k) plans next year. IRAs would increase to $5,000. [The Washington Post] Big Pay Boosts in Last Years Blow Out Retirement Packages 7/13/03 — Some superintendents are striking it rich. Too rich say critics. [Chicago Sun-Times] June 2003 Employers: Limit Number of Vendors Through the RFP Process 6/30/03 — The Request for Proposal process can aid employers in improving both vendor quality and participation rates. [403(b)wise] 401(k)s: Remember Them? 6/22/03 — Troubling trends in the 401(k) including decline in participation, failure to balance and too much dependency on company stock. [The Washington Post] Can There Be Too Much Choice in a Retirement Savings Plan? 6/19/03 — Conventional wisdom suggests that the more investment options a savings plan offers, the better. Conventional wisdom may be wrong. [Vanguard] Pension Reform Comparison 6/18/03 — Side-by-side comparison of EGTRRA, the Bush Proposal and Portman-Cardin, and the impact of each on the 403(b) and 457. [TIAA-CREF] Read Between the Numbers: 403(b)s and 457s 6/16/03 — Story outlines 403(b) and 457 provisions and differences. [TeachersTalk] Florida Teachers Can Stay on Jobs Longer 6/11/03 — A provision in a new state law will allow longtime teachers to defer their retirement for an extra three years, including an 86-year-old Polk County teacher who isn't ready to give up her classroom yet. [Miami Herald] Controversial Texas 457(b) Legislation Fails to Come to a Vote 6/9/03 — Texas legislation SB 1243 which sought to apply state 403(b) rules to the 457(b) failed to come to a vote before the close of the 78th Legislative Session. [457(b)wise] The Teachers Advocate 6/5/03 — Read latest financial news for teachers including details on the 403(b) mess in Orange County, California. [Scott Dauenhauer, CFP] Surprised Investors Find Their Nest Eggs Are Variable, Vanishing 6/3/03 — Regulators say many aggressive insurance agents and brokers oversold thousands of people on the hazy virtues of variable annuities, often described as mutual funds wrapped in an insurance policy. [Pinnacor] New Law Might Ban 401(k) Loans 6/1/03 — Last summer's crackdown on corporate accounting scandals has created a dilemma for employers offering 401(k) plans that let participants borrow from their retirement-savings account. [St. Petersburg Times] May 2003 IRS Issues Proposed Regulations on Deemed IRAs 5/30/03 — For purposes of the Deemed IRA rules, the term "qualified employer plan" includes 401(a)/(k) qualified retirement plans, 403(a) annuity plans, 403(b) tax-sheltered annuity plans, and governmental 457(b) plans. [Great West] A Look At Retirement Plan Fees for Employees 5/30/03 — Easy-to-read information on the impact of fees in retirement plans. Focus is on 401(k) but information relevant to all plans. [US Department of Labor] Dumb and Dumber in Texas: Lobbyists Seek to Torpedo RFP in 457(b) 5/28/03 — Under proposed Texas legislation SB 1243 that seems very likely to pass, school districts will soon be denied the ability to engage in the RFP process when offering 457(b) plans. [457(b)wise] Opinion: Orange County Mess Underscores Farce That is the California 403(b) 5/27/03 — Nine Southern California school districts abandon their teachers' best interests under the guise of compliance and budget concerns. [403(b)wise] 8 Things Your Financial Planner Won't Tell You 5/19/03 — Literally anyone can claim to be a financial adviser. Even those with top credentials may not divulge everything you should know. Here's how to dig up the facts on the person you're paying for financial advice. [MSN] New Jersey Transit Weighs Changes to 457 and 401(k) 5/18/03 — The combined $200 million 401(k) and 457 plans sponsored by New Jersey Transit are reviewing their current investment options and considering making changes. [DC News] EGTRRA Allows Post Retirement 403(b) Contributions 5/14/03 — EGTRRA permits employers to make post-retirement contributions on an ex-employee's behalf of up to $40,000 and for as long as five years. [SunGard Corbel] Focus on 457: House to Vote on Pension Security Act 5/14/03 — The House of Representatives is scheduled to vote on the Pension Security Act (HR 1000) on May 14, 2003. Also includes information on proposed 457 and 403(b) regulations. [Great West] When Timing is Money 5/11/03 — Not satisfied with just buying and holding stocks, active money managers say they have a better approach: "timing" the market. Others says it's bunk. [St. Petersburg Times] I Want Your Job, Lady! 5/9/03 — In a sour economy, men are flocking to teaching, nursing, child care and other "female" professions. [Time] Time is Right for a Savings Campaign 5/8/03 — In 1990, 24 percent of the elderly said nine-tenths of their income came from Social Security. By 2001, that was true of 33 percent of elders, according to the Social Security Administration. The average Social Security retirement-benefit check for 2002 was $895 a month. Could you live on that? [Washington Post] My View on Proposed Legislation to Amend Teacher Retirement System of Texas (SB 1243) 5/8/03 — Employee benefits specialist David K. Young, MPA, CEBS, sees advantages to proposed Texas bill. [403(b)wise] Retired Educators Associations (REAs) 5/7/03 — State REAs are independently incorporated, non-profit associations that advocate for the well-being of retired educators on the state level. [AARP] California City To Consider $70 Million 457 Plan Search 5/6/03 — A California plan will consider searching for bundled or unbundled services for its $70 million, 1,200-participant 457 plan at an informal meeting to be held in July. [DC News] Buffett: Expect 6%-7% Returns From the Market 5/3/03 — Meeting with shareholders in Omaha, Warren Buffett said investors in U.S. stocks should expect returns of 6 percent to 7 percent a year. [Bloomberg] 2003: Improving, But Risk Abounds 5/1/03 — While the economy ended last year on a subdued note, underlying fundamentals suggest that growth should improve this year. [TIAA-CREF] April 2003 Getting Workers to Save for Retirement is a Challenge 4/27/03 — How do we get people to save more for retirement? It's an important question since Social Security is headed for insolvency and a third of all workers have no retirement savings. [St. Petersbrug Times] Breakdown of Portman-Cardin Proposal 4/17/03 — Highlights of the Portman-Cardin Pension and Savings Act which would accelerate 403(b) and 457 contributions to $15,000 for 2004. [Great-West] 403(b) Needs Major Tune Up 4/16/03 — America may still be enamored with cars, but its infatuation with 401(k) and 403(b) plans is fading. Though there is no reason to reinvent a new model, many indicators suggest defined contribution plans need a major tune up. [401khelpcenter] Portman and Cardin Introduce Retirement Security Legislation 4/11/03 — Americans would be able to save more for retirement and have more control over their savings under the bipartisan Pension Preservation and Savings Expansion Act introduced today by Reps. Rob Portman (R-OH) and Benjamin L. Cardin (D-MD). [house.gov] 10 Simple Rules For Fund Investors 4/6/03 — Here are 10 principles to guide your mutual fund investing. [Washington Post] Watch Out For Fund Fees 4/4/03 — Low fees don't guarantee better performance. But the more you pay, the less you keep yourself. Over time, you can pay thousands of dollars in fund fees, even if your fund is a rotten performer. [USA Today] House Approves Bill Ending Social Security Boon for Teachers 4/3/03 — The House passed legislation yesterday to end a Social Security practice that allowed some government workers to receive increased retirement benefits. Texas Democrats said the bill was a hardship for their state's teachers. [Washington Post] March 2003 Teachers Side of Social Security Loophole Debate 3/17/03 — American Federation of Teachers-affiliated website posts news and views of Texas Social Security loophole debate. [Alliance AFT] Congress Finds Hidden Fees for Mutual Funds 3/16/03 — Fees paid by investors in mutual funds are rising despite intense competition in the $6-trillion industry, and some fees are hidden so that it's difficult to compare funds, a key House lawmaker said Wednesday. [St. Petersburg Times] States Cutting School Funding 3/15/03 — The states' most serious fiscal crisis in more than half a century has worsened to the point that more than a third of the states are moving to cut millions — in some cases billions — of dollars from public school budgets. [The Washington Post] Congress at Odds Over How Texas Teachers Get Benefits 3/14/03 — Thousands of retiring Texas teachers in recent years have done a curious thing on their last day of work: served as janitors, cafeteria employees or other blue-collar workers. The one-day service qualified them for thousands of dollars in Social Security benefits they otherwise would forego. [The Washington Post] Are You Paying Too Much for Your 403(b)? 3/12/03 — Many participants and plan sponsors are unaware of all of the fees in their 403(b) program. Why are fees important? The table in this story shows the impact of utilizing a low-cost provider. [Bolton Partners, Inc] Workforce Committee Approves Bipartisan Pension Security Act 3/6/03 — The comprehensive pension protection bill backed by President Bush and passed by the House last year would give millions of Americans new tools to help them better manage and expand their retirement savings. [Committee on Education and the Workforce] The Bond Bull's Horns 3/2/03 — Last year, investors pulled $25 billion out of stock mutual funds and added $125 billion to bond mutual funds. You can hardly blame them. It's scary out there, and, as war nears, it's getting scarier [The Washington Post] February 2003 Are Variable Annuities Right for Your Clients? 2/25/03 — Dr. James D. Peterson and Yongling Ding, researchers at the Schwab Center for Investment Research in San Francisco, look at variable annuities funded with after-tax dollars. [Scott Burns] Sizing Up the Savings Plans 2/13/03 — The big winners would be people living at the top of Money Peak. The losers? Lower paid workers might be cut out of company plans. [Jane Bryant Quinn] LSAs, RSAs, ERSAs and the 403(b) Marketplace 2/11/03 — The Bush plan has significantly negative implications both for the country as a whole and for 403(b) plan participants specifically. [Chuck Yanikoski for 403(b)wise] A Wealth of Qualms On Bush's Savings Plans 2/9/03 — Offered under the rubric of tax simplification, the proposals would offer a chance for the well-to-do to make their children really rich. [The Washington Post] ERSA and the 457(b) 2/7/03 — Bush proposal would have significant affect on the governmental 457(b). [457(b)wise] GOP Not Backing Savings Changes 2/7/03 — Bush plan — which reorganizes 401(k)-type plans and IRAs — won't pass, Republican leaders say. [The Washington Post] ERSA and the 403(b) 2/4/03 — In the battle to improve retirement plans, the Bush administration has dropped the big one. As far as teachers and not-for-profit workers are concerned, it couldn't have happened a moment too soon. [403(b)wise] In Place of IRAs and 401(k)s, LSAs, RSAs and ERSAs? 2/2/03 — Bush administration seeks to streamline retirement plans. [The Washington Post] January 2003 New Tax-Free Savings Plans Proposed 1/31/03 — The Treasury Department formally unveiled a proposal to radically reshape the way Americans save money. [The Washington Post] President's Budget Proposes Bold Tax-Free Savings and Retirement Security Opportunities for All Americans 1/31/03 — Treasury Department press release details plans to roll most defined contribution retirement plans into one plan to be known as an ERSA. Also details plans to replace IRA with two new savings plans. Includes FAQs on new proposals. [Treasury Department] President Proposes Replacing 401(k) Plans 1/31/03 — The Treasury Department announced that the President's budget will include several new expanded savings proposals including the replacement of 401(k) accounts with the Employer Retirement Savings Account (ERSA). [401khelpcenter] Bush Plan Proposes Radical Changes to Retirement Plans 1/31/03 — Under proposal the 403(b), 457(b) and 401(k) would be rolled into one new plan. [Island Packet Online] IRS Releases Updated Publication 571 1/31/03 — Publication 571 details the 403(b) retirement plan. For pdf version click here. [irs.gov] Loophole Around Government-Pension Offset Law Criticized 1/30/03 — Working one day as a janitor could earn a teacher $93,000. (Story first ran 9/4/02) [Education Week] GAO Asked to Study Whether Fees Are Excessive 1/26/03 — As investors endure painful losses on their mutual funds, two lawmakers are asking whether fund companies might be charging unnecessary fees. [The Washington Post] Mutual Funds Face Rule on Disclosure 1/24/03 — The SEC voted to adopt a rule that would force mutual fund managers to publicly disclose how they cast proxy votes on behalf of their investors. [The Washington Post] Social Security Releases 2003 Retirement Earnings Test 1/16/03 — Many employers, including educational institutions, take advantage of the expertise of older workers by hiring their own former full-time employees or other retirees on a part-time basis. For retirees this may affect their Social Security benefits. [TIAA-CREF] December 2002 403(b) Contribution and Catch Up Limits Rise for 2003 12/27/02 — 403(b) contribution limits rise to $12,000 for 2003 while the "Age 50 catch up" provision increases to $2,000. [403(b)wise] The University of Hawaii Ranks 403(b) Vendors by Participation Count and Contribution Amount 12/12/02 — The Office of Human Resources at the Univeristy of Hawaii lists fixed and variable annuity providers by participation count and contribution amount. [403(b)wise] How the Grinch Stole the 403(b) 12/1/02 — Every 403(b) investor liked no-load mutual funds a lot... But the Grinch, who served as benefits director, did NOT! [403(b)wise] November 2002 Educating California's Educators 11/26/02 — Leave no teacher behind: planner Scott Dauenhauer specializes in providing hourly, fee-only advice to educators in California's public schools. [Investment Advisor] Editorial: Article Picked Wrong Target 11/26/02 — In an editorial to the Fort Worth Star-Telegram, attorney Wade Caldwell, who has represented teachers in lawsuits, believes the story "School Skimmed on Homework Benefit Consultants" picked the wrong target. [403(b)wise] Educators Spread New Math for 403(b), 457s 11/26/02 — The Economic Growth and Tax Reconciliation Act (EGTRRA) has given educators a range of defined contribution retirement plan options that compare with the popular 401(k) accounts offered by most corporations. [EducatorsMoney] Fee! Fie! Foe! Fum! Investment Fees Can Leave You Numb 11/21/02 — Remember Jack and the Beanstalk? While you can't plant "magic beans" to make your 403(b) grow like the fairy-tale giant beanstalk, you can help your account grow by trying to reduce the fees you pay. [mPower Cafe] School Boards Must Make Decisions, Not Rubber-Stamp Them 11/17/02 — In a 3,322-word report published last Sunday about teachers' pension consultants being considered by four area school districts...six words jumped out: "The Keller board had limited discussion." [Star-Telegram] Schools Skimmed on Homework on Benefit Consultants 11/12/02 — Teacher retirement and benefit accounts were a headache for Texas school districts, so many snapped up a company's offer to administer the accounts for free. [Star-Telegram] AB 2506 Chaptered 11/12/02 — AB 2506 requires a central database listing all fees and charges in 403(b) plans sold in California. Here is the chaptered version of this new bill. [403(b)wise] Teachers Call for More Regulation of Retirement Plans 11/10/02 — Teachers organizations in Texas and across the country say that safeguards must be put in place to protect teachers when they purchase investments for retirement plans. [Star-Telegram] California Teachers Face Tax 'Shock' 11/5/02 — California teachers are in for an unpleasant surprise come April: They've lost a substantial personal income tax credit for 2002. [LA Times] October 2002 Public School System Offers 403(b) Match 10/31/02 — While employer matches to defined contribution plans are commonplace in the 401(k) world, and even popular in 403(b) plans at the higher education level, they are extremely rare at the K-12 level. Since January 1, 2001, Arlington Public Schools in Arlington, VA has offered a $15 per pay day match to its 403(b) plan. [403(b)wise] The 403(b) in California is broken. Here's the fix... 10/31/02 — Despite recent legislative efforts, the 403(b) in California is a fiasco. There is a better way. [403(b)wise] Substitute a Roth for a 403(b) 10/24/02 — Dallas Morning News financial writer Scott Burns offers an alternative to high fee 403(b) choices. [Scott Burns] Bill Seeks to Increase 403(b) Contribution and Catch-up Limits 10/22/02 — HR 5558 would, among other things, raise contribution and catch-up limits in IRAs and 403(b)-like retirement plans for 2003. [403(b)wise] The Time Has Come for School Districts to Adopt a Single Vendor Approach to the 403(b) 10/15/02 — There are a multitude of benefits to both employer and employee when a sole quality vendor is selected. [403(b)wise] TIAA-CREF Salutes 403(b) Warrior Steve Schullo 10/8/02 — Los Angeles teacher and 403(b) advocate Steve Schullo is profiled in a TIAA-CREF advertisement. [403(b)wise] IRS Receives Written Comments and Testimony on 457 Proposed Regulations 10/02/02 — IRS proposed regulations provide guidance on all tax legislation affecting section 457 plans since 1982. [Great-West/BenefitsCorp] September 2002 Special Rule Allows Transfers to Individual 403(b) While Employed 9/19/02 — A special rule gives some 403(b) participants the opportunity to transfer money out of their plans, and into investments they prefer, while still employed. [mPower] 403b/457 Retirement Plan Design and Management Conference 9/12/02 — World Research Group will hold its inaugural 403b/457 Retirement Plan Design and Management Conference on September 30 and October 1, 2002 in Washington, DC. [403(b)wise] August 2002 Teacher Pension Options Studied 8/22/02 — West Virginia officials may provide some relief for teachers who claim they were misled by representatives of VALIC, an insurance company, into switching retirement plans more than 10 years ago. [Charleston Gazette] Teachers: Grade Your 403(b) 8/21/02 — As the new school year begins, now's a great time for teachers to grade their retirement plans. [Motley Fool] Old Money New Insurance Tricks 8/10/02 — Heavily advertised high interest rates on annuities often quietly convert to low interest rates. [G. Wade Caldwell] July 2002 The Honesty Option 7/31/02 — TIAA-CREF, which manages more than $274 billion in assets for school and university employees, recently urged top executives at 1,754 publicly traded companies to begin voluntarily expensing options. [LA Times] Cops and Teachers Are Getting Soaked 7/21/02 — They're among the public servants often locked into paying high fees for inferior retirement plans. [Business Week] Comprehensive Compilation of Arguments Both Pro and Con For Variable Annuities in Tax Deferred Savings Plans 7/4/02 — Excerpts and links from more than 200 independent sources on the merit of placing variable annuties in tax deferred plans like the 403(b). Insurance industry view is also presented. [Ronald A. Uitz] June 2002 AB 2506 Continues Its March Through Sacramento 6/25/02 — AB 2506, which seeks to make public the fee structure, performance and surrender charges of California 403(b) plans, unanimously passed through the Public Employees Retirement and Social Security Department. [State of California] Value of Annuities as Investment Tool Depends on Whom You Ask 6/23/02 — Excerpts: Never buy an annuity in any retirement account....when those investors begin to investigate, they find a product with all kinds of complicated bells and whistles that are usually very difficult to understand. [Milwaukee Journal Sentinel] A Limited Case for Variable Annuities 6/19/02 — As most investment professionals know, annuities are sold, not bought, however... [William J. Bernstein] Union Leaders Report Six-Figure Salaries 6/3/02 — The president of the American Federation of Teachers was paid more than six times the salary of a big-city school teacher, according to financial reports the government is making available on the Internet for the first time. [Fox News] May 2002 AB 2506 Status 5/31/02 — Link to latest legislative news on AB 2506 — legislation that seeks to improve California 403(b) plans . [State of California] AB 2506 Amendments 5/28/02 — Full text of latest AB 2506 amendments. [State of California] More Reasons to Add a 457(b) Plan Alongside a 403(b) Plan 5/28/02 — Not since 1986 have employees been allowed to save such substantial amounts of their compensation for retirement — up to $22,000. [403(b)wise] AB 2506 Passes Out of Assembly Appropriations 5/24/02 — Legislation seeking to improve California 403(b) plans passed out of Assembly Appropriations on May 22, 2002, by a vote of 17 to 7. [403(b)wise] Summary of Proposed 457 Regulations 5/15/02 — Summary of first comprehensive guidance on 457 plans since 1978. [403(b)wise] AB 2506: Two Views 5/14/02 — Supporters and opponents of AB 2506 present their views side-by-side. [403(b)wise] Planners May Face Hurdles In Reaching 403(b) Market 5/9/02 — A California bill designed to help 403(b) participants is causing confusion and inspiring attacks. [financial-planning.com] Proposed New 457 Regulations 5/8/02 — The IRS has released new proposed regulations that provide guidance on the 457 plan. These proposed regulations represent the first comprehensive guidance on these plans since 1978. [IRS] Public-sector Sponsors Seek to Modernize Plans 5/1/02 — Public employees across the country are benefiting from an emerging trend to modernize and improve 403(b) retirement plans. [BenefitNews] April 2002 AB 2506 Claims vs. Facts 4/28/02 — Supporters of AB 2506, which seeks to streamline and improve California 403(b) plans, respond to opponents' misleading claims. [403(b)wise] California 403(b) Contribution Limits Will Soon Synch With Nation 4/24/02 — Pending legislation will bring state laws on retirement-account contributions into line with federal changes. [LA Times] CalSTRS Supports Amended Version of AB 2506 4/24/02 — CalSTRS analysis and position on pending California 403(b) legislation. [CalSTRS] Florida Offers Details on Investment Choices in New Plan 4/21/02 — Detailed investment information on Florida's innovative new defined contribution plan. [Florida Retirement System] California Teachers' Group Bolsters 403(b) Advice 4/8/02 — The California State Teachers' Retirement System (CalSTRS) will provide and pay for an advice platform for participants in its 403(b) retirement plan. [403(b)wise] Texas TRS Approves Criticized 403(b) Regulations 4/4/02 — The Texas Teacher Retirement System Board of Trustees approved revised 403(b) regulations that contain expense caps. However, some believe the new regulations don't go far enough, and worse, are a cave-in to the insurance industry. [403(b)wise] Q & A on Legislation to Improve California 403(b) Plans 4/3/02 — Supporters of AB 2506, which seeks to streamline 403(b) plans in California, make their case in a question and answer format. [403(b)wise] March 2002 The Great Texas (and California) Channel Fight In the face of determined foes, Texas and California seek to improve 403(b) plans. [Scott Burns] Legislative Response to Enron Includes Federal Disclosure Rules and Excise Penalty for Governmental 457s and 403(b)s The House Ways and Means Committee recently approved a bill that will require governmental 457 and 403(b) plans to follow new disclosure requirements. [National Council on Teacher Retirement] State of Florida to Shake Up Pension Plan Florida will let members decide whether they want to stay in the state's retirement pension plan or take investing control of the money themselves. [Tampa Tribune] Laredo Lawsuit Improves 403(b) Plans 403(b) contributors should look toward Laredo and be thankful. [Scott Burns] February 2002 Updated Publication 571 Now Available (non-PDF) This version of the updated IRS publication 571 doesn't require special software to be viewed. Content can be copied and pasted. [irs.gov] Florida Employees to Choose Retirement Plan More than 600,000 Florida public employees will choose between a traditional pension plan and an investment plan. Florida is the first state to offer all of its employees such a choice. [myfrs.com] School Districts Should Consider Adding an IRC 457 Plan Thanks to new tax laws 457 plans have some advantages school disricts might want to consider. [403(b)wise] January 2002 California Tax Impasse Could Harm Retirees State's delay in conforming with federal retirement savings incentives, including 403(b) plans, is putting many in a financial bind. [Kathy Kristoff, LA Times] New Rules for Texas 403(b) Plans Texas is implementing a new certification process for companies wishing to sell 403(b) products. [State of Texas] Changes to 403(b) Plans Help Teachers Save Details on the new changes to 403(b) plans including how teachers can in some cases contribute to both a 403(b) and a 457 plan. [Sandra Block, USA Today] Californians Missing Out on Tax Incentives State rules don't conform with new U.S. code that allows higher contributions to savings plans, including the 403(b). Changes sought. [LA Times] The Lifetime Cost of Money Management What is the lifetime cost of money management? What's the difference between zero cost management and 75 or 200 basis points? [Scott Burns] December 2001 Annuity Myths and Reality Not all annuities are high fee and unflexible. [TIAA-CREF] November 2001 Fixing A Broken 403(b) Plan If you are not happy with your 403(b) plan's costs, investment choices or service, you can take control of your retirement plan using a 90-24 Transfer. [Frank Armstrong, Investor Solutions] Managers' Fees Can Add Up to Big Losses in 403(b) Plans A teacher who invests for retirement through a typical 403(b) plan pays expenses of about 2 percent a year for a variable annuity. This may cost $500,000 in retirement assets. [Scott Burns] An Asset Class Approach to Investing Asset classes and their value as an investment strategy are explained. [TIAA-CREF] Special Rules for Church-sponsored 403(b) Programs Church 403(b) plans often have quite different rules than 403(b) plans of public schools or secular nonprofit organizations. [mPower] October 2001 Our New Look [403(b)wise] Vanguard's Brennan on the Variable Annuity Business Excerpt: "...higher-cost variable annuities shouldn't be promoted for use in qualified retirement plans when the client would be better served by lower-cost mutual funds." [Vanguard] Morningstar to Target 403(b) Market [DCN News] The Case for a Reasonable Hold Harmless This story is a rebuttal to In Defense of Hold Harmless Agreement by Mark Fischer, CFA. [Scott Dauenhauer, CFP] From ABCs To 403(b)s Fidelity develops adviser-run 403(b) plan for public school teachers [financial-planning] Fidelity Targets K-12 Public School Market [DCN News] In Defense of Hold Harmless Agreements Scourge of the 403(b) world or necessary legal protection? [Mark H. Fischer, C.P.A.] September 2001 Perspective on Tragedies from Vanguard [Global Financial Data] The Historical Impact of Crises on Financial Markets [Global Financial Data] Exchange Your Way Out of a Bad Annuity Feel as if you are locked into a rotten annuity? [LA Times.com] Simple Diversification Works More money. Less worry. The question is how to get both. [Scott Burns] August 2001 A 401(k)/403(b) Tax Paradox In the long run, participation in a 401(k)/403(b) can mean paying more taxes. [Albert B. Crenshaw, Washington Post] What Investors Really Need to Know Called "How to Be Your Own Stockbroker," this booklet is essentially a set of steps designed to help investors make educated and informed selections of stocks, and to some extent mutual funds as well. [FundAdvice.com] "Free Look" Law Lets You Back Out of Insurance Purchases Link shows each state's rules on backing out of various insurance purchases, including variable annuities. [insure.com] Pay for Financial Advice? For Many, It's a Good Plan. When is it time to hire a financial planner? If you need to ask that question it is probably time. [Washington Post] Teachers Hope for Comfort When They Retire Jim and Dorian Meaders aren't wealthy, so they have to make sure their money is working for them....The Meaderses work for Belmont University, a small private university in Nashville. [USA Today.com] Murder Insurance Offered to Teachers After a year of high-profile school violence that culminated with the conviction of Nathaniel Brazill for the shooting of Florida teacher Barry Grunow on May 26, 2000, the National Education Association (NEA) has added a murder provision to its insurance benefits. [insure.com] July 2001 Texas Acts to Clean Up 403(b) Market The Texas Legislature, in response to growing complaints by teachers and several high profile class action lawsuits, has enacted sweeping changes in the way 403(b) products can be sold to teachers in Texas. [403(b)wise] 403(b) Gets a Little More Like Its Cousin In the geography of investing, the 403(b) is a backwater. [Jane Bryant Quinn, The Washington Post] June 2001 If You Love Paying Taxes, Stay Away From Your 403(b) Plan But if you'd rather keep Uncle Sam waiting so that you can benefit now, you can't afford to ignore your plan. Even a small contribution to your 403(b) today can mean thousands of dollars in retirement. [mPowerCafe.com] IRS to Continue to Audit 403(b) Plans The Internal Revenue Service (IRS) intends to continue auditing 403(b) retirement plans and will begin auditing eligible governmental 457(b) plans. [TIAA-CREF.org] New Tax Bill Increases 403(b) Contribution Limits, Portability New retirement rules in the recently enacted tax bill will make it easier for 403(b) savers to stash even more money away for their golden years. [mPowerCafe.com] Throw Away The MEA Calculators - The Repeal of a Complicated Formula Gives New Life to 403(b) Plans Included in President Bush's new tax law is the provision for repealing the Maximum Exclusion Allowance (MEA) calculation for 403(b)s at the end of 2001, allowing plan contribution rules to mimic that of 401(k) plans. [Financial-Planning.com] Keystone State DC Legislation Faces Opposition on 403(b) Plan Pennsylvania State Sen. Gibson Armstrong and the state's appropriation committee are facing difficulty bringing two defined contribution plan bills to the senate floor due to opposition from the state's teacher's association. The bills would create a 403(b) plan as an option for the state's 193,000-life $50 billion Public School Employees Retirement System. [Defined Contribution News] Variable Annuities: Two pros debate the ups and downs of these controversial investments Is a variable annuity right for you? We asked experts, pro and con: Mark Mackey, president of the National Association of Variable Annuities, a lobbying group; and Laura Tarbox of Tarbox Equity, a planner in Newport Beach, California, who manages $115 million. [MutualFunds.com] The 403(b) Market After Tax Reform What does the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001 mean to the 403(b)? Still River, which produces 403(b) compliance software, gives their analysis of the effects on the 403(b) in this Adobe PDF document. [StillRiverRetire.com] May 2001 Who Should Buy Variable Annuities? While most financial experts are in agreement that variable annuities are not suitable for 403(b) and 401(k)-type retirement plans, there are some places where they make sense. [SmartMoney] Pension Bill to Offer Savers More Options; Boost 403(b) The Comprehensive Retirement Security and Pension Reform Act passed the House by an overwhelming margin this month and is being debated in the Senate. Under the bill, annual contribution limits for individual retirement accounts--both Roth and traditional IRAs--would more than double to $5,000. Contribution limits for 403(b) and 401(k) plans would rise by more than 40% to $15,000. [Kathy Kristof, latimes] Your 401(k)/403(b) May Be Costing You a Fortune Experts say the average 401(k) returns 2% less each year than a traditional pension plan. For a typical worker, that's $750,000 less when you hit retirement age. [Scott Burns, msn.com] April 2001 Hard lessons for teachers Peg Morris, a teacher in Wyckoff, was unhappy with her retirement savings plan. The fees seemed high, the returns were tepid, and information was hard to come by. Then the Franklin Lakes resident read a 1999 article in The Record about teachers who were trying to improve their retirement plans, and suddenly her frustration had a focus. [By Kathleen Lynn] The Smart Money Officials are starting to use large bonuses to attract good teachers to the nation's worst schools. Maryland is paying cash bonuses and is learning that teachers can be lured. California is giving $10,000 one-time bonuses to all teachers who receive national certificates and has promised an additional $5,000 a year for 4 years to any nationally certified teacher working at a school in the bottom half of the state's academic performance list. [Jay Mathews, The Washington Post] Health System Taps Prudential, GBS Retirement Susquehanna Health System has selected Prudential Retirement Services and GBS Retirement Services to provide bundled services to the sponsor's $25 million combined 401(k) and 403(b) plans. [Defined Contribution News, 4/9/01] IRS Publishes Frequently Asked Questions on TSAs/403(b)s Excerpt: "I am going to retire at the end of the current year. I did the catch-up computations under special catch-up rules for the year of separation from service contribution limit. I have not made a prior catch-up election. My figures indicate that I can put away $30,000 in my final year. My contribution is all salary deferral with no employer discretionary or matching contribution. Can I make the election and defer the entire $30,000?". [IRS] A Plan for Growth and Income for New Retirees How should new retirees invest their savings so they get the income they need to help support them during a 15- or 20-year retirement? The short answer: They should invest a large chunk of their money in stocks. That advice may sound a bit crazy, given the huge losses that so many stocks have suffered. [Stan Hinden, The Washington Post] IRS Clarifies 403(b) Required Beginning Date Rule Excerpt: "An IRS official involved with the drafting of the new proposed required minimum distribution (RMD) regulations has confirmed there is an important typographical error in regulations regarding 403(b) plans. The error substantially changes the meaning of the regulation's 403(b) provisions and would result in an unintended change in the required beginning date (RBD) determination for 403(b) plans." [sungardcorbel.com] |
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