Compliance August 1st, 2024 Bill to Allow CITs in 403(b) Plans Introduced in Senate The introduction of the bill comes after a similar proposal was passed by the House of Representatives on March 8.
Data & Research February 27th, 2024 Fidelity 401(k) Millionaire Totals Rebound in Q4 2023 The total number of 401(k) accounts exceeding $1 million at Fidelity increased in last year’s final quarter.
Compliance January 31st, 2024 Can 403(b)s and CITs Some Day Be Friends? Legislation to permit the pooled investment into 403(b) plans continues to inchworm its way through Congress.
Compliance December 7th, 2023 Congress Publishes SECURE 2.0 Corrections Draft Legislation The bill would correct errors related to catch-ups, RMDs and Starter Plans.
Compliance November 30th, 2023 IRS Part-Time Eligibility Rules Bring Relief, Surprise, Deadline Concern The vesting rule in the proposal is a focus for industry experts.
Compliance November 28th, 2023 Part-Time Retirement Eligibility Proposal Seeks to Clarify Complex Legislation The IRS published fiduciary guidance on legislation intended to give more part-time workers access to retirement plans.
Compliance July 12th, 2023 Wake Forest Baptist Health Settles 403(b) Suit for $3.8M The plaintiffs filed an unopposed settlement after “hard-fought” negotiations.
Compliance June 29th, 2023 Jury Sides with Yale in 403(b) Lawsuit A Connecticut federal jury sided mostly in favor of Yale over the management of its $5.5 billion retirement program.
Compliance May 25th, 2023 CITs: Coming Soon to 403(b) Plans? A bill approved by the House Committee on Financial Services would permit CITs in all 403(b) plans to bring parity...
Compliance April 24th, 2023 Proposed Bill Would Allow CITs in 403(b) Plans 403(b) plan advisers may have their patience rewarded with a potential bill to allow CITs is on the table.
Compliance January 6th, 2023 After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Compliance December 20th, 2022 SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
Compliance December 12th, 2022 Expert Consensus: SECURE 2.0 May or May Not Pass Passage of the final bill depends on whether Congress can pass an annual budget.
Compliance October 31st, 2022 SECURE 2.0 Likely to Pass this Year Three separate bills, dubbed SECURE 2.0 when taken together, are likely to be passed into law by this December, according...
Data & Research September 28th, 2022 Workers Worried About Inflation Are Delaying Retirement A Nationwide Retirement Institute report shows a spike in workers who are feeling on ‘the wrong track’ for retirement.
Compliance September 26th, 2022 Lawsuit For Wake Forest University Retirement Plan Proceeds The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
Compliance April 25th, 2022 IRS Provides Sample Language for 403(b) Plan Provisions The agency issued a listing of required modifications for pre-approved plans.
Data & Research April 11th, 2022 Some 403(b) Plan Sponsors Don’t Have Information Needed to Monitor Fees A GAO study found a wide range in 403(b) plan recordkeeping and investment management fees.
Compliance April 4th, 2022 Attorney Calls Proposed Changes to RMDs From 403(b)s ‘A Big Deal’ Proposed required minimum distribution changes would require a participant to take calculated amounts from each 403(b) contract he has.