It also provides links for resources the IRS provides to help 403(b) plan sponsors stay in compliance.
Similar to the settlement agreement regarding the Ascension plan, the agreement includes provisions that mimic the provisions of ERISA.
Income from retirement accounts would replace a median 14% of pre-retirement income for workers between the ages of 55 and 65, a new study suggests.
A federal district court judge only moved forward certain claims of breaches of fiduciary duty of prudence under the Employee Retirement Income Security Act (ERISA).
More than two in 10 403(b) plans now automatically enroll participants.
Members of the "ACT" committee are in a unique position to provide observations about current or proposed IRS policies, programs and procedures, and suggest improvements through a yearly final report.
Health care plan sponsors deal with much M&A activity, and that is where Voya hopes to grow its business.
For plan sponsors, benefits include improved recordkeeping and reporting, online plan management capabilities and enhanced client support, Vanguard says.
As with similar lawsuits, the one against Brown University attacks the traditional 403(b) plan model.
The agency has made changes to its opinion letter program for pre-approved retirement plans.
Certain providers to non-ERISA 403(b) plans offered by political subdivisions of the state must now disclose conflicts-of-interest.
This is the second lawsuit filed this month against the university regarding excessive fees in its 403(b) plan.
In addition to alleging the St. Louis-based university allowed the plan to charge excessive fees, the lawsuit alleges the plan's loan program violated ERISA prohibited transaction rules.
The Supreme Court, in its decision about the definition of church plan, left out two key issues in the lawsuits, which it said were not issues before it.
403(b) plan sponsors can now seek out providers of pre-approved plan documents to adopt.
The university is just the latest to face an ERISA class action lawsuit filed by one of its employees, alleging imprudence in the management of retirement planning benefits.
The university is also accused of approving a TIAA loan program that required excessive collateral as security for repayment of the loan, charged grossly excessive fees for administration of the loan, and violated DOL rules for participant loan programs.
Nineteen percent of investors polled don’t save at least 10% for retirement, and say doing so would not be easy, and another 19% do not have an emergency fund and say starting would not be easy.
Plan sponsors can provide participants with a variety of tools to help them determine whether they are on the right track to retire on time.
While several claims were dismissed, several were allowed to move forward.