Practice Management
If at first you don’t succeed, try, try again seems to be the motto used in a new class action lawsuit filed against New York University alleging breach of fiduciary duties for excessive plan fees in the school’s retirement plans.This new, 129-page filing (Sacerdote v. NYU Langone Hosps., S.D.N.Y...
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On Nov. 1, the House GOP is expected to release its tax reform proposal, and it’s expected to include a number of significant changes for retirement plans.
Find out what you need to know — and how to prepare — for the changes that could be coming down the road at the newly redesigned NTSA Summit...
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It’s said that reasonable minds can differ — and that turns out to be the case in another university 401(k) suit.
The plaintiffs in this case are five employees of Massachusetts Institute of Technology (MIT) and participants in the MIT Supplemental 401(k) Plan. The suit — filed a little more than...
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Why take time away from your office to participate in the NTSA Summit? There are a lot of good reasons — here are three.It’s hard to find a good time to be out of the office — but if you’re a 403(b) or 457 retirement plan professional, your participation at the NTSA Summit can pay off in amazing...
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During challenging economic times, some plan participants turned to plan loans to meet financial needs that they could not otherwise meet. That can create difficulties down the road for participants, but immediate complications for plan administrators.
A recent blog entry identifies three errors...
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What are the rules around non-ERISA 403(b) plans being protected from bankruptcy and how to they compare to IRAs and 401(K) plans? We discuss the matter in Tech Talk.
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There are substantial legal challenges related to offering to 403(b) plans the type of collective trust investments that are sold to 401(k) plans. In MarketBeat, Robert J. Toth points out the legal and regulatory requirements one must meet, and discusses one plan provider’s unique way of applying...
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An excessive fee suit that had challenged the number of funds on the menu, the use of multiple recordkeepers, and the embrace of asset-based, rather than per-participant fees (among other things) has been dismissed.The suit, brought by participants in the $3.8 billion University of Pennsylvania...
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Millennials are taking steps to save early for retirement, but they also have higher expectations that employers should be offering access to a retirement savings plan and socially responsive investments, according to new survey results.The Capital Group’s Wisdom of Experience survey found that...
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Hurricanes, epic floods, wildfires… we seem to be awash in natural disasters. They pose many dangers and risks, including the threat they can pose to a retirement plan — and, ultimately, its participants and their dependents.There are steps that plans, employers, service providers and...
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Cybersecurity is a special concern for the financial industry, a lawyer who handles cybersecurity cases said recently. MarketBeat discusses how its importance goes well beyond the integrity of clients’ and plan participants’ sensitive information — it pervades inter-corporate business functions as...
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Health savings accounts are projected to exceed $60 billion in assets among nearly 30 million accounts by the end of 2019, according to Devenir’s 14th semi-annual HSA survey of the top 100 providers in the market and follow-up research. The report confirms that the HSA market is undergoing...
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The Sunshine Act has been around longer than all the Millennials. And fee disclosure has been required for years. And still, with all that — not to mention the advent of electronic means of research and communication — the head of a consultant firm in a series of blog entries warns employers and...
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Automatic features continue to take hold among 403(b) plans, the Plan Sponsor Council of America (PSCA) found in a recent study.PSCA’s annual 403(b) survey reports that more plans are offering auto enrollment, and that auto escalation is becoming more widespread as well.“Over the past several years...
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Determining how assets must be disbursed from retirement accounts after a participant’s death can be quite complex. In MarketBeat, Barbara Webb discusses how required minimum distributions (RMDs) should be handled in certain circumstances.
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It’s a summertime trap: the poor baseball player trapped between bases who is going to be tagged out no matter which direction he goes. A recent blog entry argues that such a pickle faces employers and plan administrators too concerning distributions, but at any time of the year.Any employer and...
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It appears that 403(b) disclosure is on the march. A bill that would require new disclosures in New Jersey, A5151, has been filed by Assemblywoman Amy Handlin (R-Red Bank), the Deputy Republican Leader of the Democrat-controlled Assembly.A5151 is more or less a carbon copy of the 403(b) disclosure...
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Terminology is central to the rules around required minimum distributions (RMDs). In MarketBeat, Barbara Webb discusses some key terms fundamental to RMDs.
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Can a company refuse a non-residential 403(b) qualified loan to a 66 year old (still employed at her district) because the employee is within five years of age 70½? In Tech Talk, Susan Diehl tells us whether there are age restrictions related to 403(b) loans.
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Employers offering 457 plans demonstrate a great degree of positivity about the plans and about their role in helping employees prepare for retirement, according to a recent study.In its recent survey of 457 plan sponsors, American Century Investments sought information about perceptions of their...
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