Retirement - Section 5 | Contract 2020 TA Education

The SWAPA Number

Dec 20, 2023•30 min

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Episode description

On this Contract 2020 TA Education episode, we'll hear from Negotiating Committee Member, Damian Jennette about Section 5, Retirement.

00:17 Retirement Headlines
00:39 MBCBP Overview
01:57 MBCBP Funding
03:28 Private Letter Ruling – Additional Funding
04:26 Excess Contribution Limits
05:22 Four Sources of Spill Cash and Filling Qualified Buckets
07:59 Non-Qual Plans Today and Moving Forward
08:58 IRS and PLR Timeline
11:22 PLR Protections
14:11 Contingency Planning
14:59 Account Structure and Access
16:25 “Market Based” Defined
16:56 Preservation of Capital Rule
18:27 Hypothetical Gains
19:23 59 ½ Rule and In-Service Distribution
20:34 NEC Philosophy
22:13 Profit Sharing Plan Changes
24:37 Profit Sharing Deferral Percetages and Why
26:03 401K Plan Changes
26:44 Non Qual Plans

For more information, visit the Contract 2020 TA Education Resource Center on swapa.org.

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