Nurturing the Nest Egg

Autor/in	McNeil, Michele
Titel	Nurturing the Nest Egg
Quelle	In: Education Week, 28 (2008) 6, S.26-27 (2 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0277-4232
Schlagwörter	School Districts; Central Office Administrators; Administrator Responsibility; School Personnel; Employees; Retirement; Business; Federal Government; Government School Relationship; Compliance (Legal) + Suchen Sie Ihr Suchwort? School district; Schulbezirk; Schulpersonal; Employee; Arbeitnehmer; Beschäftigter; Pensionierung; Business studies; Wirtschaft; Betriebswirtschaft; Bundesregierung
Abstract	Seemingly arcane new federal rules about supplemental retirement plans have sparked a seismic shift in responsibility for school districts, thrusting them into the retirement business with new oversight--and burdens--involving their employees' 403(b) accounts. Once merely paper-pushers between their employees and investment choices, district business officials must now vet and pick the investment firms that offer such plans, craft a highly technical document governing the 403(b) accounts, and assume responsibility for making sure employees seeking hardship withdrawals or loans from their accounts are following the rules. The clock is ticking toward the January 1 Internal Revenue Service (IRS) deadline to comply with the most significant change in 403(b) plans since the regulations were first issued in 1964. The impact of the new IRS rules, which became final in July 2007, will be felt far beyond district business offices. Teachers and other employees may find their investment choices limited as their districts, for simplicity's sake, seek to scale down the number of investment companies allowed to offer their plans. Even as the new rules have left district officials confused and, in some cases, overwhelmed, they also have provided a business opportunity for companies and consultants ready to swoop in and offer their services. (ERIC).
Anmerkungen	Editorial Projects in Education. 6935 Arlington Road Suite 100, Bethesda, MD 20814-5233. Tel: 800-346-1834; Tel: 301-280-3100; e-mail: customercare@epe.org; Web site: http://www.edweek.org/info/about/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10