Not surprisingly, many cities and special districts no longer have monies available in their budgets to spend on things such as legal fees to analyze and correct plan administration problems and compliance issues. When it is...more
8/12/2020
/ 457(b) Plans ,
Benefit Plan Sponsors ,
Compliance ,
Employee Benefits ,
Fiduciary Duty ,
Plan Administrators ,
Public Agencies ,
Recordkeeping Requirements ,
Reimbursements ,
Retirement Plan ,
State Constitutions
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
Many cities and special districts establish and maintain more 457(b) plans than they really need. We routinely see public agencies with as many as two, three or four 457(b) plans. How and why does this happen? And, are there...more