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403(b) Plans

BY NAPA Net Staff | 12/20/2023
While participation rates in 401(k) plans dropped in 2022, participation rates increased in 403(b) plans in the same time frame to a record high, according to the Plan Sponsor Council of America’s (... Read More
BY Nevin E. Adams, JD | 12/18/2023
The Labor Department says a federal judge mis-instructed the jury on the burden of proof in an excessive fee suit—and wants them to get another hearing. The suit against Yale University was one of... Read More
BY NAPA Net Staff | 11/22/2023
At the 2023 NAPA/NTSA ERISA 403(b) conference, Nevin & Fred went LIVE to focus on the differences in SECURE 2.0 for 403(b) and 401(k) plans—with a special guest. And then the focus turned to... Read More
BY NAPA Net Staff | 11/6/2023
At the 2023 NAPA/NTSA ERISA 403(b) conference, Nevin & Fred took the podcast LIVE to focus on the differences in SECURE 2.0 for 403(b) and 401(k) plans—with a special guest. That’s right, we... Read More
BY NAPA Net Staff | 9/1/2023
IPX Retirement has announced the addition of two new industry partners that will be implementing the firm’s IPX Plan Governance Program (PGP), as well as its Master Recordkeeping solution.... Read More
BY NAPA Net Staff | 7/31/2023
Voya Financial will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP), the firm announced July 28. Launched by The Platinum 401k, Inc., the PEP apparently... Read More
BY John Sullivan | 7/24/2023
The Government Accountability Office (GAO) recently reviewed the Department of Labor’s (DOL) 403(b) plan oversight efforts and concluded better educational material is needed to inform plan sponsors... Read More
BY Nevin E. Adams, JD | 7/14/2023
The terms of a settlement in an excessive fee suit against a $2.3 billion 403(b) plan have come to light. The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454,... Read More
BY Nevin E. Adams, JD | 6/29/2023
One of the first excessive fee suits filed against university 403(b) plans has (finally) come to a conclusion with a jury verdict in favor of the fiduciary defendants—with an odd twist (or two).... Read More
BY John Sullivan | 4/23/2023
A bill that would allow 403(b)s to invest in collective investment trusts (CIT) could be headed for Congressional markup in the next few weeks.   A draft of the bill,... Read More
BY Nevin E. Adams, JD | 4/6/2023
An excessive fee suit with a “complicated procedural history” and one that a federal judge says “appears to be a lawsuit in search of a theory” has, once again, culminated in a win for the plan... Read More
BY NAPA Net Staff | 12/12/2022
As the rising cost of living is beginning to affect participants’ ability to save, nonprofits are moving proactively to provide support, prioritize financial wellness tools and resources, and enhance... Read More
BY John Iekel | 11/28/2022
The IRS on Nov. 21 announced that there will be no changes to the required amendments (RA) for individually designed plans qualified under Code Sections 401(a) and 403(b) for 2022. The IRS made the... Read More
BY John Iekel | 11/8/2022
The IRS has, effective immediately, expanded the individually designed retirement plan determination letter program to include certain 403(b) plans.  The IRS announced on Nov. 7 in... Read More
BY Nevin E. Adams, JD | 10/27/2022
Plaintiffs in one of the first university 403(b) suits to be filed will get their day in court. The suit against Yale University was one of the first to be filed in this area—and by Schlichter... Read More
BY Nevin E. Adams, JD | 10/21/2022
Yet another excessive fee suit has been dismissed for failing to make a “plausible” case. The plaintiff in this case is Kaila Gonzalez, a participant in the Northwell Health 403(b) Plan, who filed... Read More
BY NAPA Net Staff | 9/29/2022
While not yet back to pre-COVID levels, average deferral rates are up, more participants are contributing, more plans are permitting immediate eligibility, and employer contribution rates to 403(b)... Read More
BY Nevin E. Adams, JD | 7/8/2022
The fiduciaries of yet another university 403(b) plan have been targeted with litigation—and while the allegations are familiar, the plaintiff’s attorney is new. The suit—filed against both the... Read More
BY NAPA Net Staff | 5/12/2022
If you’re serious about supporting plans and workers in the non-profit sector, you can’t afford to miss out on the inaugural NAPA/NTSA ERISA 403(b) Advisor Conference. This unique conference is... Read More
BY Nevin E. Adams, JD | 3/2/2022
With a filing date looming, the parties in another excessive fee suit have announced a settlement.  The announcement came in a suit (Latasha Davis et al. v. Washington University in St. Louis... Read More
BY Nevin E. Adams, JD | 1/21/2022
(Yet) another excessive fee suit has been filed against a billion dollar 403(b) plan by the Capozzi Adler law firm. Filing suit as participants (and former employees) of the Boston Children’s... Read More
BY NAPA Net Staff | 12/1/2021
Retirement income and financial wellness have taken on a whole new luster when it comes to plan priorities among nonprofit plan sponsors. In fact, the number of plan sponsors citing guaranteed... Read More
BY NAPA Net Staff | 10/11/2021
Sometimes viewed as laggards in plan design, nonprofit employers are leading the way in at least two key aspects. According to the Plan Sponsor Council of America’s annual 403(b) Plan Survey, more... Read More
BY John Iekel | 7/1/2021
Which is better? It depends! That’s the verdict from an industry insider who compared and contrasted the two in a June 29 session at the 2021 NTSA Summit, the annual conference of the National Tax... Read More
BY Nevin E. Adams, JD | 5/24/2021
The law firm of Schlichter Bogard & Denton has announced the terms of another settlement of a 403(b) excessive fee case. According to a press release by the St, Louis-based law firm, it has... Read More

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