Employees

Reduce your income tax [403(b) TSA].

Have tax-free income at retirement [403(b) Roth].

Receive your FREE TSA Services Notebook!

Maximize your paycheck.

Maximize your state retirement plan.

We have specialized in retirement plans for employees of public schools and non-profit organizations since 1975. This is our largest marketplace. We currently have clients in payroll deduction plans with qualified organizations throughout Iowa and South Dakota. We offer payroll deduction retirement plans for schools, hospitals, nursing homes and other organizations. Allen Knox Associates is recognized as an Educational Resource as we provide information on financial topics to administrators and employees in our service area. Our associates are well-trained in all aspects of the IRS code regarding these special tax-sheltered plans. It is this expertise combined with the mission to be an Educational Resource working from the client’s side of the table that has established Allen Knox Associates as a leader in the TSA marketplace. We do not offer tax advice. Contact your tax advisor for your specific situation. Allen Knox Associates is an independent top-producing agency for several large insurance and investment companies. As an independent agency, we can provide the investment solutions that best fit the client’s needs. Call Allen Knox Associates today regarding any of the topics listed above or to request your no-obligation TSA Services Notebook containing the tools you need to maximize your paycheck, reduce your income tax and help maximize your retirement income.



Administrators –
The new IRS regulations regarding 403(b) TSA plans have changed the landscape of the Tax Sheltered Annuity marketplace. In addition, the State of Iowa has brought major changes to the 403(b) plans of public school employees and employers. Although several schools in Iowa administer their own 403(b) plans and offer a wide variety of investment products for their employees, the majority of Iowa school districts now offer
the State of Iowa Retirement Investment Club as their 403(b) plan. The State of Iowa RIC offers investment products from five investment companies and does not allow employees to choose their own investments outside of these approved options. There are severe restrictions on the transfer of existing TSA investment dollars for employees of schools who are using the State of Iowa RIC Plan. Allen Knox Associates does offer an approved State of Iowa RIC investment product and is actively working with employees in RIC schools. We are also working with schools that have opted for a 403(b) plan that gives their employees more investment selections, retains the option of staying with investments they already owned, and does not charge the school district any fees or expenses for administration of the plan. If your school is currently participating in the State of Iowa RIC plan, you may want to look at the plan that allows your employees greater freedom of choice.

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Business Managers and Payroll Administrators – Our 403(b) and other retirement plan administration is designed to ease your work. If you are writing more than one check each month for employee contributions to a 403(b) or other retirement plans investment companies, call us today. Our NO-COST common remitter service is the answer to this time-consuming and costly task. References from school and non-profit organization business managers are available. If youare handling enrollment of employees in retirement plans or fielding questions from employees about their retirement plans, call us today. We offer annual or semi-annual review meetings on a group or individual basis and we can provide an on-site representative once each month to enroll new employees and answeremployee questions about the retirement plan. If you have to make changes to a printed statement each month for retirement plan remittances, call us today. We offer an on-line service so that you can make changes in a matter of minutes, with immediate verification to reduce time, costs and frustrations. We work from your side of the table so that administration of retirement plans is not a burden to you or your staff.
And, we do it without any fees or expenses to your organization. Call us today!

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NEW IRS Regulations – The IRS is very active in pursuing compliance of regulations for 403(b) and other retirement plans in schools and non-profit organizations.  The compliance activities are the most intense that we have seen in our nearly 40 years of specializing in such plans.  403(b) plans, in particular, have received much attention from the IRS in the past two years, culminating in new regulations that went into effect as of January 2009.  These new regulations require employer-sponsored plans to satisfy certain form and operation requirements through a written document.  Administration of these plans is no longer possible without the services of a third-party retirement plan administrator.

We offer 403(b) plan administration services through Midwest Group Benefits, Inc. and Great American Plan Administrators, Inc.  Depending on your type of organization, we may be able to offer you an employee retirement plan with no administrative fees or expenses.  If you have a current plan, we can provide a cost and service comparison so that you are receiving maximum benefit for your retirement plan dollars.  If you do not have a current plan, we can work with you to design a plan that fits the needs of your organization and stays within your budget.

If you have any questions about your plan being compliant with the new IRS regulations, call us today!   CLICK HERE to contact us through this website.  We will visit with you about how we can simplify the administration of your plan

How we got here.

The IRS has issued new regulations regarding 403(b) plans. These 403(b) plans (commonly called TSA plans) are very popular with school employees and provide a significant portion of the retirement income for many retirees. In the past, school districts have been viewed primarily as a conduit for TSA dollars being withheld from employee paychecks. Individuals were allowed to choose their investments from a wide range of products available through their own financial advisors.

What has changed?

The IRS now views the employer (school district) as responsible for the administration of the 403(b) plans. There are requirements for the employer regarding Information Sharing Agreements with investment providers to allow transfers and other transactions to meet the regulations. Also, employers must adopt a 403(b) Plan Document if they have ever allowed or will continue to allow employees to contribute to 403(b) contracts. Most employers will use the services of a third-party administrator (TPA) to meet the requirements of the new regulations. Employees may find that they are not able to
continue to make contributions to their existing TSA investment provider.

The State of Iowa Plan.

The State of Iowa is providing an option for school districts that is designed to meet the requirements of the new IRS regulations. This plan offers 6 investment providers for TSA contributions. As of January 1, 2009, employees of school districts that have elected the State of Iowa plan will not be able to make new 403(b) contributions through payroll deduction to any other investment provider other than the 6 chosen by the state. Existing TSA dollars – dollars you have already saved – may be eligible for transfer to these 6 providers after 1/1/2009 or to other providers prior to 1/1/2009.

Schools not adopting the State of Iowa Plan.

A number of schools in Iowa have elected to use a third-party administrator and offer their own approved investment providers. These schools may limit the number of investment providers and employees will need to consult with their employer to determine if they can continue contributions to their current TSA investment.

What if your employer is a non-profit organization?

The new IRS regulations apply to any employer that has ever made a 403(b) plan available or is currently making one available to their employees. These organizations may want to contact us for information.

We have the resources . . .

We have worked with 403(b) plans since 1975 and have stayed current with the many regulation changes over the years. We have delivered on our promises while providing outstanding support. We understand the 403(b) business and we have outstanding resources that provide current information and support to us and our employers and clients. We will continue to provide accurate, timely and easy-to-follow information.

Click here for complete information regarding the new IRS 403(b) regulations, the State of Iowa plan and the plans being used by schools not adopting the state plan. You will be directed to the website of an experienced provider of 403(b) administrative services.

Contact us today! We look forward to working with employees and employers as your educational resource for the new 403(b) regulations.