Archive for May, 2013

Fixing that 403b Plan

Previously, I have pointed out various guides that the IRS has for fixing errors that occur with your retirement plan.  Recently, the IRS added a new article on their site at http://www.irs.gov/Retirement-Plans/Plan-Sponsor/Fix-It-Guides—Common-Problems,-Real-Solutions.  The new 403(b) plan portion includes common mistakes, examples, and how to fix them.  My favorite part is that the IRS has been very proactive and included how future violations can be avoided.  This page could be a very useful tool before any problems arrive by reviewing ahead and making sure to follow their suggestions.

Thanks for reading and have a wonderful day!  Please sign up for my blog and follow me on twitter @ChristineGurney.  Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung.  If you have not already done so, please check out purchasing my book on amazon at http://www.amazon.com/Short-Guide-Finding-Value-Administrator/dp/147912821X/ref=sr_1_1?ie=UTF8&qid=1354850566&sr=8-1&keywords=christine+gurney+hsiung or from the publisher at https://www.createspace.com/3964647.

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May 30, 2013 at 11:25 pm Leave a comment

Recent IRS 401(k) Phone Forum Results

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The IRS recently held a phone forum regarding the results of their 401(k) plan questionnaire.  The forum information is located on their website at http://www.irs.gov/pub/irs-tege/401k_final_report_phoneforum_presentation.pdf.  A couple of interesting items to share where the indication that the results indicated that hardship distributions and loans may require review by the agency.  There were some concerns that both were being done properly.  One of the presenters openly noted concern regarding plan participants self-certifying hardship distributions without the plan administrator obtaining appropriate substantiating records.

Thanks for reading and have a wonderful day!  Please sign up for my blog and follow me on twitter @ChristineGurney.  Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung.  If you have not already done so, please check out purchasing my book on amazon at http://www.amazon.com/Short-Guide-Finding-Value-Administrator/dp/147912821X/ref=sr_1_1?ie=UTF8&qid=1354850566&sr=8-1&keywords=christine+gurney+hsiung or from the publisher at https://www.createspace.com/3964647.

May 17, 2013 at 6:10 pm Leave a comment

Participants Lifetime Income Calculator

The Department of Labor (DOL) has included a Lifetime Income Calculator on their website at http://www.askebsa.dol.gov/lia/home.  By following the instructions at http://www.dol.gov/ebsa/regs/lifetimeincomecalculator.html, participants can estimate what their accounts with future contributions will provide in retirement income when they retire.

Thanks for reading and have a wonderful day!   Please be sure to subscribe to my blog and follow me on twitter @ChristineGurney.

May 10, 2013 at 9:01 pm Leave a comment

Cash Balance Plans

I recently came across a very nice resource regarding cash balance retirement plans.  The US Department of Labor (DOL) has nice synopsis located on their website at http://www.dol.gov/ebsa/FAQs/faq_consumer_cashbalanceplans.html.  I particularly like how the DOL describes how the plans operate and how they vary from other types of retirement plans.  The site will be a useful resource for elementary discussion of cash balance plans.

Thanks for reading and have a wonderful day! Please sign up for my blog and follow me on twitter @ChristineGurney. Please like my facebook author page at http://www.facebook.com/ChristineGurneyHsiung. If you have not already done so, please check out purchasing my book on amazon at http://www.amazon.com/Short-Guide-Finding-Value-Administrator/dp/147912821X/ref=sr_1_1?ie=UTF8&qid=1354850566&sr=8-1&keywords=christine+gurney+hsiung or from the publisher at https://www.createspace.com/3964647.

May 2, 2013 at 7:19 pm Leave a comment


Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

@ChristineGurney

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