
After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s
The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.

SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms
Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.

Expert Consensus: SECURE 2.0 May or May Not Pass
Passage of the final bill depends on whether Congress can pass an annual budget.

SECURE 2.0 Likely to Pass this Year
Three separate bills, dubbed SECURE 2.0 when taken together, are likely to be passed into law by this December, according to Washington insiders.

Of Mutual Benefit

Workers Worried About Inflation Are Delaying Retirement
A Nationwide Retirement Institute report shows a spike in workers who are feeling on ‘the wrong track’ for retirement.

Lawsuit For Wake Forest University Retirement Plan Proceeds
The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
IRS Provides Sample Language for 403(b) Plan Provisions
The agency issued a listing of required modifications for pre-approved plans.

Some 403(b) Plan Sponsors Don’t Have Information Needed to Monitor Fees
A GAO study found a wide range in 403(b) plan recordkeeping and investment management fees.

Attorney Calls Proposed Changes to RMDs From 403(b)s ‘A Big Deal’
Proposed required minimum distribution changes would require a participant to take calculated amounts from each 403(b) contract he has.

IRS Identifies Changes to 403(b) Plans for Second Remedial Amendment Cycle
The 2022 Cumulative List will assist providers of Section 403(b) pre-approved plans applying to the IRS for opinion letters.

Judge Cites Recent Supreme Court Ruling in Denying Dismissal of Excessive Fee Suit
Participants in a terminated 403(b) plan challenged the use of actively managed funds and higher cost share classes.

PPL Corp. and Mass Brigham General Face ERISA Lawsuits
Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.
Ameritas Introduces Two Retirement Plan Choices
The Ameritas GPS platform and a 403(b) program aim to help participants meet financial goals.

Damage Control in a Downturn
Weighing 403(b)s versus 401(k)s for Nonprofits
In most cases, the 403(b) is the better option.
The Benefits of Simplifying DC Plan Investment Menus
Doing so could encourage more employees to participate in the plan, sources say.

Legislative and Judicial Actions
Cash Back Program May Be Used for Student Loan Repayments
The EvoShare program also allows employees to receive up to 20% cash back on spending toward a 401(k) or 403(b) plan, and/or 529 plan.
Participants Report Being Knowledgeable About Retirement Plans
Just over six out of 10, 61.6%, said they engage with their retirement plan, according to a survey by Vestwell.