Concern About More Litigation Follows Supreme Court’s Cornell Decision
Industry experts responded to the recent Supreme Court ruling, which lowered the bar for plaintiffs alleging prohibited transactions, with concern...
Tag: 403(b)
Great Gray Presses Senators to Allow 403(b) Plans to Use CITs
The CIT trust company and two law firms argue against consumer groups seeking to halt a bill that would let...
New PEP for Head Start Programs Launches With Oregon-Based Plan Sponsor
The pooled employer plan focused on 403(b) nonprofit educational programs is sponsored by GPS, with investment fiduciary services from the...
Treasury, IRS Issue Part-Time Eligibility Guidelines for ERISA 403(b) Plans
The guidance clarifies exclusions that prevent certain part-time employees from contributing to a plan.
CITs in 403(b)s, Roth Rollovers, Among Priorities for Government Plans
NAGDCA laid out these and other 2024 legislative priorities.
House Approves Measure to Allow CIT Use in 403(b) Plans
The amendment is a first step in meeting industry calls to extend the lower-cost investment vehicle beyond 401(k) plans.
Voya Focusing on PEPs, MEPs With Advisers, Says Top Exec
The wealth solutions sales head made the comments at a LeafHouse conference as the firm announced it was nearing $90B...
Ascensus Hits $1B AUA in PEPs, Showing Continued Adoption
The firm cites almost 650 employers in their pooled employer plans; meanwhile, Ameritas is launching a 403(b)-specific offering.
Retirement Plan Limits to Rise in 2024, Mercer Projects
Almost all retirement plan limits will increase, with the exception of catch-up contributions, according to the benefits consultancy.
Fidelity: Auto Default Contribution Rate Hits All-Time High of 4.1%
The recordkeeper’s Q2 participant report also finds third-consecutive boost in average retirement account balances on strengthened markets.
Voya Brings Pooled Employer Plan Option to 403(b) Plans
The firm calls its Secure Retirement 403(b) PEP the first to market, following a years-long push for PEPs in the...
Insurance Group Calls On White House to Support More Retirement, Annuity Legislation
The IRI wrote to the Biden administration in the hopes it will back retirement legislation that paves the way for...
The PLANADVISER Interview: Colbert Narcisse, TIAA
The product and business development leader discusses the opportunities and challenges of in-plan retirement income annuities in DC plans.
BlackRock Invests in Small Business 401(k) Provider Human Interest
BlackRock’s investment comes on the heels of retirement legislation designed to increase retirement plan coverage by small businesses.
Advisory M&A
Alera buys Ascent Group, adds $2.8B in AUM; Heffernan snags Utah-based insurer; Marsh McLennan acquires HMS Insurance Associates; and more.
SECURE 2.0 Enjoys Widespread and Consistent Industry Support
Industry actors and interest groups continue to express enthusiastic support for SECURE 2.0 and support its passage in the coming...
IRS to Permit Determination and Termination Letters for 403(b) Plans
Beginning in June 2023, the IRS will allow 403(b) plans to apply for determination and termination letters, similar to 401(a)...
Wilmington Trust Introduces Digital CIT Onboarding Tool
Plan adviser users of the tool can automatically pull key data for the plan they are advising into the system...
Social Security Concerns Drive Early Benefit Claims
Almost half of workers surveyed (48%) have no strategy to generate retirement income, Schroders finds.
A Capitol Hill Update With SSGA’s Melissa Kahn
The leader of State Street Global Advisors’ public policy work says there is significant momentum building in Congress behind another...