District Administration - February 2009 - (Page 43)

beneficiaries.) Thus, any employer that has decided to terminate a 403(b) plan must ascertain that, in fact, every account held in the plan has been properly distributed. Once assets have been distributed, each participant is eligible to roll over the values (companies must provide a direct rollover option for employees) to an Individual Retirement Account or to another workplace plan, if one exists. However, if all assets are not finally distributed, those employees who did elect to roll over their accounts without another qualifying event, such as attainment of age 59½ or severance of employment, will have an ineligible rollover (subject to taxes and potential penalty taxes), because the IRS will consider the plan not to have been successfully terminated. What is ahead in 2009 and beyond? Employers will want first to carefully deal with the important steps necessary to ensure a compliant 403(b) plan. Then they should plan to oversee the activities that the providers of annuity contracts and custodial accounts are engaged in to cooperate with the compliance. Even if the employer chose to use a third party administrator to handle the transactions necessary for compliance, it will be important to monitor their activities as well. While all of the employers’ oversight activities will become easier over time, there will be problems to be resolved. Additionally, employers should continuously communicate with their employees who have been impacted by the final regulations. The message from employer to employees should be that all of the changes necessary to comply are being accomplished to protect the tax status of all of the 403(b) accounts held under the plan. www.DistrictAdministration.com Read more about the history of 403(b), the relief it offers, and some failures to avoid. Eleanor Lowder is a master certified retirement specialist and author. She does not provide legal or tax advice, nor should anything in this article be used to avoid the payment of income taxes. She can be reached at elowder@ gainbroadband.com. www.DistrictAdministration.com Mark your calendar for these exclusive Leadership Series Web Seminars designed to help you run your district more effectively and efficiently. Ask questions and interact with leading experts. Web Seminars FREE ARCHIVED WEB SEMINARS Miss a live event? Want to see it again? View the archives from the past 12 months, including these recent events: RESPONSE TO INTERVENTION: Improving achievement for all children Originally aired: September 23, 2008 STREAMLINING YOUR COMMUNICATION: Collaboration with a unified solution Originally aired: October 14, 2008 SCHOOL WELLNESS POLICIES: Do you have one—and is it working? Originally aired: October 21, 2008 ® Nutrition for Health USA IMPROVING ACHIEVEMENT: Performance management solutions: the TIES experience Originally aired: November 12, 2008 Take Full Advantage of WEB SEMINARS Web Seminars These are FREE but you must pre-register! www.DistrictAdministration.com/webseminars February 2009 43 http://www.DistrictAdministration.com/webseminars http://www.DistrictAdministration.com http://www.DistrictAdministration.com/webseminars http://www.DistrictAdministration.com

Table of Contents for the Digital Edition of District Administration - February 2009

District Administration - February 2009
Contents
Advertiser Index
Editor's Letter
News Update
Security
Curriculum
Crisis Response
Supervisor's Opinion
The Rise of the Virtual Teacher
Speaking Their Language
Alternate Transportation Routes
Opinion
The Aftermath of the New 403(b) Regulations
How Well Does This Web Site Work?
Problem Solution
New Products
Product Focus
Professional Opinion

District Administration - February 2009

https://www.nxtbook.com/nxtbooks/pmg/da201511
https://www.nxtbook.com/nxtbooks/pmg/da201510
https://www.nxtbook.com/nxtbooks/pmg/da201509
https://www.nxtbook.com/nxtbooks/pmg/da201508
https://www.nxtbook.com/nxtbooks/pmg/da201507
https://www.nxtbook.com/nxtbooks/pmg/da201506
https://www.nxtbook.com/nxtbooks/pmg/da201505
https://www.nxtbook.com/nxtbooks/pmg/da201505_AudioVisualSolutions
https://www.nxtbook.com/nxtbooks/pmg/da201504
https://www.nxtbook.com/nxtbooks/pmg/da201503
https://www.nxtbook.com/nxtbooks/pmg/da201502
https://www.nxtbook.com/nxtbooks/pmg/da201501
https://www.nxtbook.com/nxtbooks/pmg/da201412
https://www.nxtbook.com/nxtbooks/pmg/da201411
https://www.nxtbook.com/nxtbooks/pmg/da201410
https://www.nxtbook.com/nxtbooks/pmg/da201409
https://www.nxtbook.com/nxtbooks/pmg/da201408
https://www.nxtbook.com/nxtbooks/pmg/da201407
https://www.nxtbook.com/nxtbooks/pmg/da201406
https://www.nxtbook.com/nxtbooks/pmg/da201405
https://www.nxtbook.com/nxtbooks/pmg/da201405_AudioVisualSolutions
https://www.nxtbook.com/nxtbooks/pmg/da201404
https://www.nxtbook.com/nxtbooks/pmg/da201403
https://www.nxtbook.com/nxtbooks/pmg/da201402
https://www.nxtbook.com/nxtbooks/pmg/da201401
https://www.nxtbook.com/nxtbooks/pmg/da201312
https://www.nxtbook.com/nxtbooks/pmg/da201311
https://www.nxtbook.com/nxtbooks/pmg/da201310
https://www.nxtbook.com/nxtbooks/pmg/da201309
https://www.nxtbook.com/nxtbooks/pmg/da201308
https://www.nxtbook.com/nxtbooks/pmg/da201307
https://www.nxtbook.com/nxtbooks/pmg/da201306
https://www.nxtbook.com/nxtbooks/pmg/da201305
https://www.nxtbook.com/nxtbooks/pmg/da201304
https://www.nxtbook.com/nxtbooks/pmg/da201303
https://www.nxtbook.com/nxtbooks/pmg/da201302
https://www.nxtbook.com/nxtbooks/pmg/da201301
https://www.nxtbook.com/nxtbooks/pmg/da201301_AudioVisualSolutions
https://www.nxtbook.com/nxtbooks/pmg/da1212
https://www.nxtbook.com/nxtbooks/pmg/da1112
https://www.nxtbook.com/nxtbooks/pmg/da1012
https://www.nxtbook.com/nxtbooks/pmg/da0912
https://www.nxtbook.com/nxtbooks/pmg/da0712
https://www.nxtbook.com/nxtbooks/pmg/da0612
https://www.nxtbook.com/nxtbooks/pmg/da0512
https://www.nxtbook.com/nxtbooks/pmg/da0412
https://www.nxtbook.com/nxtbooks/pmg/da0312
https://www.nxtbook.com/nxtbooks/pmg/da0212
https://www.nxtbook.com/nxtbooks/pmg/da_avguide0112
https://www.nxtbook.com/nxtbooks/pmg/da0112
https://www.nxtbook.com/nxtbooks/pmg/da1111
https://www.nxtbook.com/nxtbooks/pmg/da1011
https://www.nxtbook.com/nxtbooks/pmg/da0911
https://www.nxtbook.com/nxtbooks/pmg/da0711
https://www.nxtbook.com/nxtbooks/pmg/da0611
https://www.nxtbook.com/nxtbooks/pmg/da0511
https://www.nxtbook.com/nxtbooks/pmg/da0411
https://www.nxtbook.com/nxtbooks/pmg/da0311
https://www.nxtbook.com/nxtbooks/pmg/da0211
https://www.nxtbook.com/nxtbooks/pmg/da0111
https://www.nxtbook.com/nxtbooks/pmg/da1110
https://www.nxtbook.com/nxtbooks/pmg/da1010
https://www.nxtbook.com/nxtbooks/pmg/da0910
https://www.nxtbook.com/nxtbooks/pmg/da0710
https://www.nxtbook.com/nxtbooks/pmg/da0610
https://www.nxtbook.com/nxtbooks/pmg/da0510
https://www.nxtbook.com/nxtbooks/pmg/da0410
https://www.nxtbook.com/nxtbooks/pmg/da0310
https://www.nxtbook.com/nxtbooks/pmg/da0210
https://www.nxtbook.com/nxtbooks/pmg/da0110
https://www.nxtbook.com/nxtbooks/pmg/da1109
https://www.nxtbook.com/nxtbooks/pmg/da1009
https://www.nxtbook.com/nxtbooks/pmg/da0909
https://www.nxtbook.com/nxtbooks/pmg/da0809
https://www.nxtbook.com/nxtbooks/pmg/da0609
https://www.nxtbook.com/nxtbooks/pmg/da0509
https://www.nxtbook.com/nxtbooks/pmg/da0409
https://www.nxtbook.com/nxtbooks/pmg/da0309
https://www.nxtbook.com/nxtbooks/pmg/da0209
https://www.nxtbook.com/nxtbooks/pmg/da0109
https://www.nxtbook.com/nxtbooks/pmg/da1208
https://www.nxtbook.com/nxtbooks/pmg/da1108
https://www.nxtbook.com/nxtbooks/pmg/da1008
https://www.nxtbook.com/nxtbooks/pmg/da0908
https://www.nxtbook.com/nxtbooks/pmg/da0808
https://www.nxtbook.com/nxtbooks/pmg/da0708
https://www.nxtbook.com/nxtbooks/pmg/da0608
https://www.nxtbook.com/nxtbooks/pmg/da0508
https://www.nxtbook.com/nxtbooks/pmg/da0408
https://www.nxtbook.com/nxtbooks/pmg/da0308
https://www.nxtbook.com/nxtbooks/pmg/da0208
https://www.nxtbook.com/nxtbooks/pmg/da0907
https://www.nxtbook.com/nxtbooks/pmg/da0807
https://www.nxtbook.com/nxtbooks/pmg/da0707
https://www.nxtbook.com/nxtbooks/pmg/da0607
https://www.nxtbook.com/nxtbooks/pmg/da0507
https://www.nxtbook.com/nxtbooks/pmg/da0407
https://www.nxtbook.com/nxtbooks/pmg/da0307
https://www.nxtbook.com/nxtbooks/pmg/da0207
https://www.nxtbook.com/nxtbooks/pmg/da0107
https://www.nxtbook.com/nxtbooks/pmg/da1206
https://www.nxtbook.com/nxtbooks/pmg/da1106
https://www.nxtbook.com/nxtbooks/pmg/da1006
https://www.nxtbook.com/nxtbooks/pmg/da0906
https://www.nxtbook.com/nxtbooks/pmg/da0806
https://www.nxtbook.com/nxtbooks/pmg/da0706
https://www.nxtbook.com/nxtbooks/pmg/da-palm0606
https://www.nxtbook.com/nxtbooks/pmg/da0606-av
https://www.nxtbook.com/nxtbooks/pmg/da0606
https://www.nxtbook.com/nxtbooks/pmg/da0506
https://www.nxtbook.com/nxtbooks/pmg/da0406
https://www.nxtbookmedia.com