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Lola

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    Berkeley, CA
  1. Hello I have a very hard time finding a 3rd party 403 B plan administrator. We need someone who will fill our 5500 form and make sure that we are compliant with new ERISA regulations, we are a small school with 22 participants. Can you please suggest someone in CA Bay area? Thank you so much for your help. Kind regards, Lola
  2. Lola

    403 B Match

    Hello. I have a questions to 403 B plan administrators, who can advice me, as I am new to the whole 403 B plans. Currently my school sets aside $ 145 per month per each employess ($ 1,740 per year) with 5 year vesting for each employee. We send a check to Valic for the whole match amount once a year in September. My question is do legally have to pay these matching amounts to employees who were away more than 3 month (sick leaves) or to employees who were not contribution to their 403 B accounts for more than half a year? Do we prorate? Is it completely at school’s discretion or do we legally have to contribute the whole $ 1,740 amount to everyone who participartes (even if it's several months), to make sure that we are not discriminating? Our 403 B plan documents say nothing about it, it was always a grey area... I tried to contact our plan broker at Valic, but he was completely useless... Thank you so much for your help, Kind regadrs, Lola
  3. It is in fact a great company. I did a lot of research on them. Unfortunately they have a moratorium on all new accounts for more than a year already, as they don't have any resources to accommodate any new group clients. Too bad for my school ;-(((
  4. Dear Steve. Thank you so much for taking time to answer my questions. It’s incredibly helpful. We are a small school, just 27 employees, but I will be calling TIAA CREF first thing in the morning. I completely agree with you, our teacher work so hard for so little in terms of compensation, I really want to make sure that we have the best retirement plan possible. Thank you so much again for such a great input. Kind regards, Lola
  5. I am a controller for a small private school in SF area. We currently have our 403 B account through Valic. Can someone recommend an independent consultant whom we can hire to review our current plan in terms of admin fees, and performance (it’s all annuities) , and examine other options. We don’t want a broker who sells specific investments, we want someone completely unbiased to advice the administration of the school to how provide the best possible retirement options to our teachers. I am very new to a non profit word, so thank you so much for your help, Lola
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