Tag: 403(b) plans

The March 31 deadline for 403(b) plans has been extended to June 30; the April 30 deadlines for DB plans have been extended to July 31.

The bill introduced to Congress is designed to ensure public sector and nonprofit retirement plans have the same access to low-cost investments as for-profit retirement plans do.

403(b) plan sponsors need help understanding their fiduciary duties, reviewing plan investment lineups and benchmarking fees.

The university argues that other courts would have required more than an appellate court did in its lawsuit to state a plausible claim.

A magistrate judge found that there are genuine issues of material fact as to whether Columbia acted prudently throughout the class period by not consolidating to a single recordkeeper.

The lawsuit accused Allina Health System defendants of allowing one provider free-reign to add funds to Allina's 403(b) and 401(k) plans, and of failing to monitor investment service providers.

It is looking into whether agents are engaging in deceptive and unfair sales practices, such as failing to appropriately disclose product costs and merits.

Revenue Procedure 2019-39 sets forth a system of recurring remedial amendment periods for correcting form defects in 403(b) individually designed plans and 403(b) pre-approved plans occurring after the initial remedial amendment period ends on March 31, 2020.

“We’ve heard the need for these investment options in 403(b) plans from advisers, consultants and plan sponsors for decades,” says Bruce Corcoran, managing vice president/head of 403(b) Business at ICMA-RC.

Plan advisers can help 403(b) plan sponsors looking for downside protection, active strategies and target-date funds (TDFs) that can be used as a decumulation vehicle in retirement.

The denial of leave to file an amended complaint by a district court judge offers a brief lesson in Federal Rules of Civil Procedure.

For a small number of plans in which the plan sponsor has decided to no longer allow contributions to the EQUI-VEST variable annuity and to make the AXA Retirement 360 Defined Contribution Program available as an option, AXA is required to file with the SEC to allow transfers.

However, 403(b) plans are in a remedial amendment period, and the IRS has offered much help for them to be in compliance with regulations.

An appellate court revived two claims in the lawsuit that had been previously completely dismissed by a District Court, but in a dissenting opinion, one judge expressed concern about permitting implausible allegations to result in a large settlement.

AdvisorConnect is a support network of plan sponsor-approved, registered financial professionals who specialize in the public-sector retirement space and has been designed as a value-add to plan participants seeking customized financial solutions.

Vanderbilt will conduct a request for proposals (RFP) for a new recordkeeper, among other things.

"We believe that The 403(b) Plan eSource will be the ‘go-to’ resource for 403(b) professionals and will allow 403(b) professionals to find answers to their compliance questions easily and quickly,” says Timothy McCutcheon, JD, CPA, MBA, publisher of ERISApedia.com.

The agreement also calls for Brown to to try to further reduce recordkeeping fees from the plans’ two recordkeepers and conduct a request for proposal (RFP) process for the role of independent investment adviser to the plans.

Vanderbilt University joins Duke University and the University of Chicago in settling claims about 403(b) plan mismanagement.