Tag: 403(b) plans

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.

The program is aimed at promoting NTSA’s dual goals of improving the understanding of retirement planning options for teachers and school staff and boosting 403(b) plan participation.

The request regards information collection for Revenue Ruling 2000-35, which describes certain criteria that must be met before an employee's compensation can be reduced and contributed to an employee's section 403(b) plan in the absence of an affirmative election by the employee.

No reason was given for why the plaintiff decided on the voluntary dismissal.

In addition to a gross monetary payment of $10.65 million, the university agreed to other non-monetary actions.

According to ICMA-RC, its overall plan costs in some cases may be more than 33% lower than what other 403(b) participants pay.

Even among 403(b) plans not governed by ERISA, PLANSPONSOR DC Survey results show that in 2016, 54.3% of plan sponsors reported they have an investment committee for their plans; this jumped to 67.3% in 2017 and 67% in 2018.

The 2018 PLANSPONSOR Defined Contribution Survey finds that 403(b) plan sponsors offer more formal financial education/guidance on a variety of topics than the overall 4,000 defined contribution (DC) plan sponsors surveyed.

The university has pared down to 11 investment options in its 403(b) plan.

Educators who work with a financial professional exhibit more effective financial behaviors over time, have higher mean annual contributions, increase their contributions more frequently, and are more likely to monitor their account performance than those who do not, a survey finds.

Under the once-in-always-in exclusion condition, for a 403(b) plan that excludes part-time employees from making elective deferrals, once an employee is eligible to make elective deferrals, the employee may not be excluded from making elective deferrals in any later exclusion year on the basis that the employee is a part-time employee.

One case focused on excessive fees for recordkeeping, administrative, and investment services, and the other focused on revenue sharing.