Ask the experts: (b)Lines

July 18, 2017

(b)lines Ask the Experts – Consequence of Offering Non-Eligible Investments

“What is the consequence of a plan that, though written to permit only 403(b) eligible investments (403(b)(1) fixed/variable annuities and /or 403(b)(7) custodial accounts (mutual funds)), actually offers investments that do not qualify as 403(b) investments in  plan operation? Is this a defect that can be self-corrected?”

June 13, 2017

(b)lines Ask the Experts – Changing Withdrawal Provisions When Transferring to a 403(b)(1) Annuity Contract

I work with a 403(b)(7) plan with employer matching and employer non-elective contributions in addition to elective deferral contributions. The plan doesn’t permit age 59-1/2 and hardship withdrawals. The plan is transferring to a 403(b)(1) annuity contract and would like to permit age 59-1/2 withdrawals from all sources and hardship distributions of elective deferral contributions.

June 06, 2017

(b)lines Ask the Experts – When the Individual Who Signed Form 5500 Retired

“We are starting preparations for our retirement plan’s Form 5500 annual return filing; however, the individual who signs our returns as employer and plan administrator retired, and the new person taking over the position inquired as to exactly who should be signing as the employer and plan administrator. Do the Experts have any guidance on the subject?”

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