There's not a school business official in the country who isn't dealing with budget cuts and trying to do more with less. This article shares some proven strategies to help school districts reduce spending and address personnel issues associated with retirement plans. Because public education employers are exempt from the Employee Retirement…

Uses question-and-answer format to discuss whether employer contributions to 403(b)(7) custodial mutual-fund accounts subject employer to the reporting and disclosure requirements of Title I of the Employee Retirement Income Security Act (ERISA). Also discusses the self-correction of excess contributions to a 403(b) program per the Internal…

There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This paper presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Several states have legal protections that effectively prevent a state…

For school executives, annuities have become the preferred retirement vehicle, because other private-sector investments (some deferred compensation and profit-sharing plans) are closed to public employees. This article explains Internal Revenue Code sections 403 (b) and 457 and 1986 Tax Reform Act provisions related to tax-sheltered annuity plans.…

Congress' proposed revision of the Internal Revenue Code could have a significant impact on the retirement options available to educators. Some retirement and tax shelter plans are reviewed including: Individual Retirement Accounts, Keogh plans, Section 403(b) of the Code, and retirement and estate planning. (MLW)