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Richard Parker

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  1. It would have been so nice if the government differentiated the two 457(b)'s with an NP or G, but no.... My understanding of a nonprofit 457(b) is that employee is required to take full distribution within 60 days of termination of employment. If employee doesn't, there are penalties to the employer. Is this just a provision in a TIAA-CREF NONGOVERNMENTAL 457(b) or is it law? What if your 457(b) is all in annuities - does that prevent a full cash-out? Have a great day.
  2. none other than to take the distribution as taxable income or leave it with your former employer. none other than to take the distribution as taxable income or leave it with your former employer. Could this above answer be correct? I thought you were required to take a nonprofit (nongovernmental) 457(b) distribution within 60 days of terminating employment.
  3. Is anyone else having problems getting their master documents from TIAA-CREF for a mandatory (T.A.M.R.A.) plan? How did you handle it?
  4. We have both Fidelity and TIAA-CREF. We only use the TIAA plan documents. Fidelity has far surpassed TC for service, but with an institution as small as yours don't expect good service from either of them.
  5. Under a defined contribution plan, the maximum annual contribution on behalf of any plan participant may not exceed $45,000 for 2007. If I have a 403(b) mandatory (TAMRA) plan and a supplemental unmatched TDA plan, must I combine them to test for the total $45,000 cap? Thank you and Happy New Year.
  6. We have both an irrevocable election (TAMRA) plan and a supplemental tax deferred annuity plan with TIAA. The TDA offers annuities and mutula funds. Employees can max out ($20,500 in '07) in the TDA because they are the only "elective" contributions. Richard Parker
  7. Is the 403b your organization's primary retirement plan? Peace and Hope, Joel L. Frank Yes. We have a TDA as well, but this 403(b) is the primary and only matched plan.
  8. Is the 403b your organization's primary retirement plan? Peace and Hope, Joel L. Frank
  9. A review has been requested in my org. to increase our 403(b) match to 10% of earnings based on a mandatory employee contribution of 5%. Does anyone know where I can find matching information for various employer plans, especially whether these high-matching employers contribute to Social Security? I would love to have some facts, data, comps, etc. for my proposal. Happy holidays. Richard Parker
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