NTSAA
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The National Tax Sheltered Accounts Association (NTSAA) is the nation’s only independent, non-profit association dedicated to the 403(b) and 457 plans marketplace. NTSAA’s mission is to provide high quality related education, technical support and information resources, as well as to offer a professional networking forum. Membership is open to anyone with a strong interest in the issues and opportunities in the 403(b) and 457 plans marketplace.
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Latest News
New Fee Disclosure Solution Released by NEA, NTSAA & ASPPA Joint 403(b) Taskforce
http://savemy403b.org/403b/new-fee-disclosure-solution-released-by-nea-ntsaa-asppa-joint-403b-taskforce
Partners of the 403(b) Transparency Taskforce including the National Education Association (NEA), the National Tax Sheltered Accounts Association (NTSAA) and The American Society of Pension Professionals & Actuaries (ASPPA) today launched the 403(b) Model Disclosure Form—the first ever transparency standards for disclosure of fees and services in the public school 403(b) marketplace.
Chris DeGrassi Becomes Executive Director of NTSAA
The American Society of Pension Professionals & Actuaries (ASPPA) today announced the addition of Chris DeGrassi to their team as Executive Director over The National Tax Sheltered Accounts Association (NTSAA) and Assistant Executive Director over The National Association of Plan Advisors (NAPA). DeGrassi joins ASPPA from Security Benefit, where he was an Assistant Vice President handling the marketing and distribution of retirement plans for teachers.
Join Us at the NTSAA 403(b) Advisor Summit on February 8 - 10 in Las Vegas, NV!
The NTSAA Annual Conference is now the NTSAA 403(b) Advisor Summit! It is the premier 403(b) and 457 forum for a new focus on educating and providing sales ideas for producers, providers, agents, broker/dealers, sales and marketing managers, office staff, plan sponsors and other business officials.
Research Shows Reduction of Choice Negatively Impacts Participation
The American Society of Pension Professionals & Actuaries (ASPPA) Pension Education and Research Foundation (PERF) issued research on the impact of choice and participation in school-sponsored 403(b) plans. PERF’s white paper “Protecting Participation: The Impact of Reduced Choice on Participation by School District Employees in 403(b) Plans,” examines the role of choice in the 403(b) marketplace and how the elimination of investment provider choice impacts public school employees’ participation in those plans. The paper shows that this choice is valuable to help workers prepare for retirement and maintain their participation levels.
Government Affairs
State Legislation
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To find out more information on state developments,
go to SaveMy403b.org. |
Comment Letters
On January 23, 2012, NTSAA and ASPPA submitted comments to the Internal Revenue Service in support of the inclusion of 403(b) plans in the prototype program for pre-approved plan documents. IRS officials have recently indicated that budget concerns may result in a reexamination of whether to include 403(b) plan documents in the pre-approved plan program. NTSAA and ASPPA believe that a prototype program for 403(b) plans is essential for the proper administration of the tax laws and that it would be a mistake to abandon this integral component of 403(b) compliance. http://www.asppa.org/document-vault/pdfs/GAC/2012/1232012.aspx
On July 21, 2011, Kristi Cook, JD, TGPC, testified on behalf of ASPPA and NTSAA at an Advisory Council on Employee Welfare and Pension Benefit Plans hearing on 403(b) plans. ASPPA and NTSAA filed a statement for the record with the Council that addressed: (1) differences between 403(b) plans and 401(a) qualified plans; (2) the safe harbor exclusion under Title I of ERISA; (3) challenges for disclosure of fees and services under section 408(b)(2) of ERISA for 403(b) plans; (4) 403(b) plan termination and handling of custodial mutual fund accounts; and (5) audit issues and financial statements. Statement for the Record
On July 15, 2011, ASPPA and NTSAA submitted comments to the Internal Revenue Service regarding the termination of a 403(b) plan which is funded, in whole or in part, by 403(b)(7) custodial accounts. Comment
Recent Publications
Market Beat - January/February 2012
Conferences and Webcasts
Upcoming Conferences:
The NTSAA Annual Conference is now the NTSAA 403(b) Advisor Summit! It is the premier 403(b) and 457 forum for a new focus on educating and providing sales ideas for producers, providers, agents, broker/dealers, sales and marketing managers, office staff, plan sponsors and other business officials.
Upcoming Webcasts:
403(b) and the Rest of the Story
Live on February 23, 2012
The 403(b) regulations have now been effective since the beginning of 2009 and the DOL’s “transparency” scheme is now fully applicable to 403(b) plans. This session will survey the particular administrative and legal issues with which plan sponsors and 403(b) vendors are still struggling from these changes and explore approaches to addressing them.
Archived Webcasts:
The Challenges: Moving Retirement Plan and IRA Assets
Available through November 15, 2012
This webcast will differentiate between tax-free transfers and exchanges of 403(b) accounts, and rollovers into 403(b) and 457(b) plans. The speakers will provide detailed information about the rules and the practical aspects of assisting IRA owners and participants in 403(b) and 457(b) plans in repositioning and/or consolidating other retirement savings based on the requirements set forth in the written plans.
Safe Harbor Plans - A Fresh Look
Available through September 16, 2012
As employers are reinstating matching contributions, they are looking to maximize the benefits for those contributing to deferral plans. Safe harbor plans for 401(k) and 403(b) are a popular alternative to accomplish this goal because they may eliminate ADP/ACP testing if specific rules are followed. By attending this webcast you will learn the different types of Safe harbor plan designs (including Qualified Automatic Contribution Arrangements) that are available. You will also see examples of creative designs that can be used to achieve client goals. In addition, the rules for suspending or terminating the arrangements during a plan year will be discussed.
Fee Disclosure And Conflicts Of Interest For ERISA 403(b) Plan Service Providers
Available through August 11, 2012
This webcast will explain the impact of the new fee disclosure regarding regulation on service providers in the 403(b) marketplace.
403(b) Plan Audits
Available through July 14, 2012
Webcast participants will learn about the unique challenges of 403(b) plan audits, common deficiencies uncovered by auditors, and what can be done to make these audits go more smoothly. Advice on how to select an independent auditor will also be provided.
403(b) Plan Termination Guidance: Distributing & Managing Transactions In Orphan Accounts
Available through April 21, 2012
The speakers will cover the guidance on plan termination, along with the practical problems in meeting the plan termination requirements. Additionally, they will discuss non-grandfathered orphan accounts, both in terms of plan termination, and the management of transactions (such as loans and hardship withdrawals) for orphan accounts. Time will be permitted for Q&A.
Receive Valuable Information about the 403(b) and 457 Markets!
Many ASPPA members have already recognized the value of expanding their businesses into the non-profit retirement market. Now that the National Tax Sheltered Accounts Association (NTSAA) has become a division of ASPPA, you have the unique opportunity to network and gain valuable knowledge about 403(b) and 457 plans, plus you will receive discounts to the NTSAA National Conference. In addition, as part of ASPPA’s agreement with NTSAA, you will receive and have access to NTSAA’s newsletter, online bulletin board and Web site.