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A senior Labor Department official suggests keeping an eye out for proposed guidance addressing electronic disclosure of retirement plan information.  Jeanne Wilson, Principal Deputy Assistant Secretary with the Department of Labor’s Employee Benefits Security Administration (EBSA), said the... READ MORE
According to a new state-by-state analysis1 published by the American Retirement Association, more than 5 million employers in the United States still don’t offer a workplace retirement savings benefit, a generation after the 401(k) plan design was first introduced.  When a 401(k) is available, 78... READ MORE
A new Texas law will increase the role that school districts in the state play in the 403(b) plans they offer their employees. Rep. Dan Flynn (R-Canton) introduced the measure on March 1, 2019. The state House of Representatives passed it on April 10; the Texas Senate received the bill the next... READ MORE
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here. The IRS has clearly indicated that no... READ MORE
Tech Talk addresses when an employee can join a 403(b) plan. READ MORE
In MarketBeat, Nevin Adams writes that as we ponder the accomplishments and planning that helped our nation put men on the moon, it’s worth remembering that our “mission” is not only to get tomorrow’s retirees safely to retirement, to take those “small steps” along the way – but ultimately to... READ MORE
A key university 403(b) suit remains alive, as the fiduciary defendants lost their bid to have a rehearing of the case rejected.  The case – one of the first of the university 403(b) suits filed in 2016 – and brought by participants in the $3.8 billion University of Pennsylvania Matching Plan... READ MORE
When it comes to ERISA litigation, we often only get to hear one side of the story – the plaintiffs’. But one of the defendants in an excessive fee case is fighting back. The plaintiffs in this case are five employees of the Massachusetts Institute of Technology (MIT) and participants in the MIT... READ MORE
An excessive fee suit has been dismissed on relatively unique grounds. This suit (Stanley v. George Washington Univ., 2019 BL 259889, D.D.C., No. 1:18-cv-00878-JDB, 7/15/19) – another of the suits filed against university 403(b) plans – claims that the fiduciaries of George Washington University’s... READ MORE
  While there’s likely a rocky confirmation road ahead, President Trump has announced (via tweet) his choice as the next Secretary of Labor. “I am pleased to announce that it is my intention to nominate Gene Scalia as the new Secretary of Labor,” Trump tweeted Thursday evening. “Gene has led a... READ MORE
The Wall Street Journal’s editorial board has challenged a specific “pay for” provision in the SECURE Act. But they’re missing the big(ger) picture. One of the main reasons the SECURE Act passed the House of Representatives by the large margin of 417-3 was that, as the WSJ acknowledges, it was “... READ MORE
Your NTSA Officers and At-Large Leadership Council members cordially invite all NTSA members to join us for our semi-annual meeting on Wednesday, July 24, 2019 from 11:00 a.m. to 12:30 p.m. EDT. Mark your calendars! Conversations planned include: What Can NTSA Do for the Industry? Addressing the... READ MORE
A more personal approach is key to better engaging with individuals and building clientele and sales. That was the message of a recent NTSA webcast. In “Three Ways to Improve Client Engagement and Increase Sales,” Edward Dressel, President of RetireReady Solutions, offered his insights on better... READ MORE
As the restatement process for 403(b) plans continues on, a familiar “vestige” of certain past practices of a major vendor continues to bubble its way to the top. That “vestige” is the 403(b) “Money Purchase Plan.” In MarketBeat, Robert Toth discusses such arrangements. READ MORE
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here.   The withdrawal restrictions... READ MORE
An employee of a k-12 public school who has a 403(b)(7) took out a loan from his account, which he has paid back. He now wants to take a second loan; in Tech Talk, Susan Diehl addresses how the limit for that second loan is determined. READ MORE
American Retirement Association Chief Government Affairs Officer Will Hansen and past ASPPA President Stephen Dobrow offered testimony concerning benefit plan audits and how they may be improved at the June 25 meeting of the Department of Labor’s Advisory Council on Employee Welfare and Pension... READ MORE
  Patrick Pizzella, the current Deputy Secretary of the Department of Labor, will take over as the Acting Labor Secretary in the wake of Alexander Acosta’s July 12 resignation.   Pizzella, who has served as the Deputy Secretary since April 2018, will likely serve as the Acting Secretary until a... READ MORE
Secretary of Labor Alex Acosta has resigned in the wake of controversy regarding a plea deal he negotiated more than a decade ago with wealthy financier Jeffrey Epstein. Acosta made the announcement to reporters while standing next to President Donald Trump outside the White House. Trump said that... READ MORE
The IRS and the Department of Labor should establish a formal way of collaborating on oversight of prohibited IRA transaction exemptions, the Government Accountability Office (GAO) has recommended. The GAO undertook the study that led to its report, “Individual Retirement Accounts: Formalizing... READ MORE