Arlington, Va.-- For the first time, school superintendents will assume full responsibility for administering public school systems´ retirement savings plans, under new regulations proposed by the Internal Revenue Service. The new regulations, which are part of a major overhaul of nonprofit retirement plans by the IRS, represent a significant increase in administrative responsibility for school leaders. The American Association of School Administrators (AASA), in collaboration with the IRS, is developing a toolkit to help school leaders implement the new regulations. The toolkit will deliver IRS education materials directly to superintendents to help them administer 403(b) and 457(b) retirement plans efficiently...
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