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403(b) Plans

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
BY Nevin E. Adams, JD | 5/13/2021
The fiduciary defendants in a 403(b) university excessive fee suit say the plaintiffs have not only failed to make their case—but that they’ve taken actions in their own account(s) that undermine... Read More
BY John Carl | 5/4/2021
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and... Read More
BY Nevin E. Adams, JD | 1/19/2021
We now know the settlement terms for one of the first university 403(b) suits—one in which plan fiduciaries prevailed at the lower court, lost on appeal, and then failed to gain a review by the... Read More
BY NAPA Net Staff | 12/21/2020
A bipartisan trio of U.S. Senators has introduced legislation that would expand Multiple Employer Plan access to 403(b) plans, along with other MEP enhancements. The Improving Access to Retirement... Read More
BY NAPA Net Staff | 12/1/2020
The vast majority (83.6%) of non-profit organizations with 403(b) plans are not changing their contribution levels despite the financial pressures of the COVID-19 pandemic, according to a new... Read More
BY John Iekel | 10/22/2020
Rep. Ron Kind (D-WI) has introduced legislation in the House of Representatives that would increase access to retirement savings for employees of nonprofit organizations that have... Read More
BY NAPA Net Staff | 10/21/2020
There’s been a shift in emphasis for retirement plans in the non-profit sector. For the first time ever, organizations that provide 403(b) plans reported that retirement planning, rather than... Read More
BY John Iekel | 7/28/2020
The Securities and Exchange Commission (SEC) announced July 28 that it has reached a $40 million settlement with VALIC Financial Advisors (VFA) over failing to disclose payments to promote... Read More
BY Nevin E. Adams, JD | 5/27/2020
A university that had won a dismissal of claims in an excessive fee suit will now have to confront some of those charges. Noting that, “at this point, the complaint only needed to give the... Read More