The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
Passage of the final bill depends on whether Congress can pass an annual budget.
Three separate bills, dubbed SECURE 2.0 when taken together, are likely to be passed into law by this December, according to Washington insiders.
A Nationwide Retirement Institute report shows a spike in workers who are feeling on ‘the wrong track’ for retirement.
The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
The agency issued a listing of required modifications for pre-approved plans.
A GAO study found a wide range in 403(b) plan recordkeeping and investment management fees.
Proposed required minimum distribution changes would require a participant to take calculated amounts from each 403(b) contract he has.
The 2022 Cumulative List will assist providers of Section 403(b) pre-approved plans applying to the IRS for opinion letters.
Participants in a terminated 403(b) plan challenged the use of actively managed funds and higher cost share classes.
Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.
The Ameritas GPS platform and a 403(b) program aim to help participants meet financial goals.
In most cases, the 403(b) is the better option.
Doing so could encourage more employees to participate in the plan, sources say.
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.
Just over six out of 10, 61.6%, said they engage with their retirement plan, according to a survey by Vestwell.