Plaintiffs argue it was inappropriate to allow three recordkeepers to supply the plans with a separate menu of investment choices, including mutual fund share classes that charged higher fees than other alternatives that offered the same investment strategies or less expensive share classes of the exact same investment fund—or both.
With the Affordable Care Act and other pieces of major legislation that altered financial norms a guide, one expert asks whether a mandate to require employers to provide auto-enrollment retirement plans is a good idea against the backdrop of stubborn American individualism.
It appears some last-minute amendments have largely removed controversial provisions from the Senate’s version of tax reform legislation that would have had a big impact on governmental 457 and nonprofit 403(b) plan sponsors.
Nominating a plan sponsor client is a great way to show appreciation
and highlight important best practices that are improving outcomes for defined
contribution and pension plan participants. Nominations for all types of
retirement plans will be considered, so don’t delay.
Some sponsors that want to use a pre-approved plan have certain provisions that were not in effect for the plan for the entire restatement period or options that have changed during the restatement period.
Both parties together filed some 1,000 pages of paperwork, which the court declined to consider in denying the employer's motion to dismiss, in which it argued its plan administration practices fit within established norms.