Newsroom

Back to the Newsroom
December 16, 2011

IRS reviewing who can maintain 457(b) plans

NAFCU is seeking members' input to provisions of an IRS advance notice of proposed rulemaking on how it will determine whether an employee benefit plan meets the definition of a "governmental plan."

The ANPR, with comments due to the IRS Feb. 6, is important to federal credit unions because it could affect the institutions' ability to maintain nonqualified deferred compensation plans under section 457(b) of the federal tax code. The ANPR contemplates treating FCUs as "eligible employers" on the basis of their status as "non-governmental tax-exempt organizations."

NAFCU is seeking members' input to its official comment letter; that input is due Jan. 16. For more, see Regulatory Alert 11-EA-34.

Related Resources

Resiliency In Your Incident Response Plan

Cybersecurity

preferred partner
DefenseStorm
Blog Post

The Bottom Line on Insurance Tracking and Collateral Protection

Strategy

preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate.  [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels.  Web NAFCU digital@nafcu.org America/New_York public

Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs

Leadership Development

preferred partner
Gallagher
Podcast
Add to Calendar 2024-04-11 14:00:00 2024-04-11 14:00:00 Regulation E: Impacts Across Your Institution Dive into regulatory excellence with, Regulation E: Impacts Across Your Institution. This webinar is tailored to empower you with the knowledge and strategies necessary to effectively implement the Electronic Funds Transfer Act (EFTA) and Regulation E within your operations. You’ll explore how to apply Regulation E across various business areas to ensure compliance obligations are met with precision.   Key Takeaways Learn the basics of EFTA and Regulation E Understand how to apply Regulation E at your organization to detect processes and transactions that require Regulation E compliance Discover how Regulation E may apply to a large breath of areas in your institutions and functions for which you may rely on third-party vendors Review recent enforcement activity for non-compliance with EFTA and Regulation E   Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 11, 2025Go to the Online Training Center to access the webinar after purchase »   Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public

Regulation E: Impacts Across Your Institution

Credits: NCCO, NCRM

Webinar