403b Plans
Tech Talk discusses the benefits that may be derived from having multiple 403(b) providers, as opposed to just one.
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The House Ways and Means Committee this week will consider legislation requiring employers without employer-sponsored retirement plans to automatically enroll their employees in IRAs or 401(k)-type plans.
Committee Chairman Rep. Richard Neal (D-MA) announced Sept. 7 that the Committee will begin...
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Noting that it would add trillions of dollars in retirement savings and would help close the coverage gap, the American Retirement Association has offered its support for the retirement provisions contained in the Build Back Better Act, set to be considered by the House Ways and Means Committee...
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My wife Conni and I have lurked in the netherworld of retirement plan administration for decades now, working on those things nobody ever sees. One of the ways we explain what we do to friends and family is with a story about their own 401(k) and 403(b) plans. What we tell them is that when they go...
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The IRS has updated the information it provides concerning an aspect of aggregation of a 403(b) plan. Specifically, it addresses the application of Code Section 415(c) when a 403(b) plan is aggregated with a 401(a) plan.
Section 415(c)
In this Issue Snapshot, the IRS notes that Section 403(b)...
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Tech Talk addresses whether distributions from 403(b) plans and governmental 457 plans to cover qualified birth or adoption are distributions.
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Another multibillion-dollar plan—this one a faith-based, not-for-profit health care organization and clinical care network—finds itself in the crosshairs of a Capozzi Adler lawsuit.
Plaintiffs Lawanda Holmes, Ani M. Miller and Brittany E. Roxbury (“by and through their attorneys”) filed suit...
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The plaintiffs in a 403(b) excessive fee suit have persuaded a federal appellate court that (some of) their claims warrant a further consideration.
One of the first of the 403(b) university excessive fee suits, the plaintiffs brought this suit against NYU in its capacity as the fiduciary of...
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The IRS has updated the information it provides concerning the universal availability requirement for 403(b) plans. The information is contained on the IRS website, with hyperlinks to additional resources.
The Rule
Regarding elective deferrals, a 403(b) plan must meet the requirements of...
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A university which prevailed on some claims in an excessive fee suit and settled others, only to have the plaintiffs try to resurrect the dismissed claims—now has some trade group support for its motion to dismiss these claims… again.
The suit—one of the first of the genre of 403(b) university...
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A new excessive fee suit targets, among the usual “suspects,” what plaintiffs allege are “the obscenely high-fee, chronically underperforming GoalMaker funds…”
The plaintiffs in this case are Martin P. Moler, John T. Czahor and Kathleen D’Ascenzo, who, by and through their attorneys,[1] on behalf...
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The National Tax-Deferred Savings Association is pleased to name Shane Michael Robinson as one of the 2021 recipients of its prestigious NTSA Elite Advisor Award.
Robinson, a Financial Advisor with Robinson and Associates, serves 1,950 participants in six school districts and with $180 million in...
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The nation’s highest court has agreed to hear a case that the law firm of Schlichter Bogard & Denton says is having a “chilling effect” on excessive fee litigation.
The district court ruled in favor of the plan fiduciary defendants in March 2018, and the appellate court affirmed that decision...
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There is a broad array of plans from which an employer and plan sponsor can choose. In a 2021 NTSA Summit workshop session, an industry expert offered an overview, with a special focus on 430(b) and 457 plans.
Nathan Glassey, Vice President, National Benefit Services, set the table by looking at...
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Which is better? It depends! That’s the verdict from an industry insider who compared and contrasted the two in a June 29 session of the 2021 NTSA Summit.
“A vexing issue,” said Mark Heisler, CEO of ADMIN Partners, LLC, of the question. Not only that, he said, it is “probably the number one...
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The 403(b) has an importance beyond what most imagine, panelists in a June 29 session of the 2021 NTSA Summit reminded attendees.
“To know where we are is to know where we have been,” said Bob Architect, who from 1975 to 2009 served as senior tax law specialist with the Employee Plans Division of...
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The education sector of the retirement plan market is in a period of marked transformation, and an expert panel in a June 28 session of the 2021 NTSA Summit offered their insights on these trends and what they mean.
David Lewis, Executive Director of the Association of School Business Officials (...
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There is plenty of activity on Capitol Hill, but it comes amid a climate that creates challenges for the retirement industry, noted American Retirement Association CEO Brian Graff in a June 29 general session of the NTSA Summit.
The environment now is very different, remarked Graff. There is a...
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Have you registered for the NTSA Virtual Summit? If not, this week is your last chance! This year’s sessions will include:
The state of the retirement markets — hosted by Mr. 403(b)!
Using retirement funds to pay for living expenses during hardship.
How to attract, motivate, and retain...
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One of the most active ERISA litigation firms has now turned its attention to a mammoth 403(b) plan.
The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454, complaint 6/4/21) was filed in the in the U.S. District Court for the Middle District of North Carolina by...
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