Several municipal clients adopted retiree health savings plans or post-employment health plans, and continue to have questions about what they are and how they should be administered....more
Many governmental 457(b) deferred compensation and 401(a) defined contribution plan sponsors do not take full advantage of the contribution limits for these plans. To do this, you need to understand: the limits, who they...more
2/5/2020
/ 401k ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Deferred Compensation ,
Defined Contribution Plans ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Paid Time Off (PTO) ,
Public Employees ,
Retirement Plan ,
Tax Planning
There are several fundamental principles and concepts that governmental plan sponsors and fiduciaries need to bear in mind as they select and monitor their plan providers and the fees that these providers charge....more
1/14/2020
/ Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Fees ,
Fiduciary Duty ,
Government Agencies ,
Investment ,
Investment Adviser ,
Investment Management ,
Retirement Plan ,
Service Agreements
Many cities and special districts in California maintain one or more defined contribution retirement plans (i.e., a 457(b) or 401(a) plan) in which the participants are given investment responsibility over their respective...more
With overall required contribution rates increasing at an alarming rate, most CalPERS employers – particularly those with significant “classic” safety populations – are looking for help to pay for these obligations....more
Due to the IRS’ different treatment of private sector and public agency boards of directors, it comes as little surprise that many California special districts and public agencies continue to classify their board members as...more
7/23/2019
/ 1099s ,
Board of Directors ,
Common Law Test ,
Compensation & Benefits ,
Independent Contractors ,
IRS ,
Misclassification ,
Payroll Taxes ,
Public Agencies ,
Public Officials ,
Risk Management ,
Tax Liability ,
Tax Planning ,
Wage and Hour
The California Supreme Court recently issued its decision in the Cal Fire Local 2881 v. CalPERS case – the first of six so-called “California Rule” (“Vested Pension Rights”) cases pending before the Court. The California...more
California’s cities are in crisis mode.
With pension costs outpacing revenue growth and severely underfunded retirement systems (the California Public Employee Retirement System is only 68 percent funded), local...more
7/13/2018
/ 401k ,
403(b) Plans ,
CA Supreme Court ,
CalPERS ,
Compensation & Benefits ,
Defined Benefit Plans ,
Employee Benefits ,
Public Employees ,
Retirement Plan ,
State and Local Government ,
Vested Rights Doctrine