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403(b) Plans

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
BY Nevin E. Adams, JD | 5/4/2020
Another excessive fee suit has been filed against a billion dollar university 403(b) plan, though it treads familiar ground(s).  The latest (Santiago v. Univ. of Miami, S.D. Fla., No. 1:20-cv... Read More
BY Nevin E. Adams, JD | 4/21/2020
The parties in one of the first university 403(b) plan excessive fee suits brought by the St. Louis-based law firm of Schlichter, Bogard & Denton have come to terms. This time it’s a suit... Read More
BY Nevin E. Adams, JD | 3/26/2020
A federal appellate court has ruled in favor of the fiduciaries of a university 403(b) plan excessive fee lawsuit. This was the second of the 403(b) university excessive fee suits to go to trial—... Read More
BY John Iekel | 3/23/2020
A bill has been introduced in the U.S. House of Representatives that would make it possible for 403(b) plans to invest in a broader array of forms of investment than they can currently.... Read More
BY John Iekel | 3/18/2020
The American Retirement Association (ARA) is pressing the IRS to extend the remedial amendment period for 403(b) plans by one year. The ARA made the recommendation in a March 16 letter to Cathy... Read More
BY John Iekel | 2/24/2020
The impact of the SECURE Act—the most significant retirement-related legislation in more than a decade—is well-known in many respects. Among the lesser-known impacts of the new law are those on 403(b... Read More
BY John Iekel | 2/20/2020
The Security and Exchange Commission is putting sales of 403(b) plans to teachers under its scrutiny. Where did this come from? And what does it mean? In June 2019, the SEC announced two... Read More
BY Judy Ward | 1/13/2020
Ellen Lander has worked with 403(b) plans for more than a decade, ever since a hedge fund manager client who also sat on the board of a nonprofit asked her to help improve the organization’s 403(b)... Read More
BY John Iekel | 12/26/2019
Fulfilling responsibilities and increasing participation and deferral rates are the top priorities of 403(b) plan sponsors for 2020, the Plan Sponsor Council of America (PSCA) finds in a new survey.... Read More
BY John Iekel | 11/20/2019
Stephanie Avakian, Co-Director of the Securities and Exchange Commission's Division of Enforcement, outlined the Commission’s examination of the administration of teacher retirement plans at a... Read More
BY NAPA Net Staff | 11/7/2019
The National Tax-deferred Savings Association (NTSA) has launched an exclusive series of podcasts by NTSA Elite Advisors, sharing insights on how they built, expanded and enhanced their practices... Read More
BY NAPA Net Staff | 10/30/2019
According to published reports, 403(b) sales practices at Valic are under scrutiny by the Securities and Exchange Commission. Citing people briefed on the matter, the Wall Street Journal... Read More
BY Nevin E. Adams, JD | 10/30/2019
The terms of an excessive fee settlement are not only the largest to date – once again, they’re about more than money. The suit – brought by five employees of Massachusetts Institute of... Read More
BY John Iekel | 10/3/2019
The New York Department of Financial Services (NYDFS) is seeking information regarding the way that 403(b)s are being marketed to teachers. According to The Wall Street Journal (subscription... Read More
BY NAPA Net Staff | 10/2/2019
Like their 401(k) brethren, 403(b) programs have taken steps to boost contribution and participation rates – and that’s not all they have in common. According to the 11th annual 403(b) plan survey... Read More
BY Nevin E. Adams, JD | 9/27/2019
The excessive fee settlement recently announced between the parties in a suit involving a large university plan has been challenged – by a law professor at the university. The settlement –... Read More
BY Nevin E. Adams, JD | 7/23/2019
  A key university 403(b) suit remains alive, as the fiduciary defendants lost their bid to have a rehearing of the case rejected.  The case – one of the first of the university 403(b... Read More
BY Nevin E. Adams, JD | 7/16/2019
An excessive fee suit has been dismissed on relatively unique grounds. This suit (Stanley v. George Washington Univ., 2019 BL 259889, D.D.C., No. 1:18-cv-00878-JDB, 7/15/19) – another of the suits... Read More
BY John Iekel | 6/13/2019
Retirement professionals serving 403(b) clients in the two states will be impacted by legislation slated to take effect in the Keystone State in July and the Lone Star State in September. PA... Read More
BY NAPA Net Staff | 4/17/2019
The Plan Sponsor Council of America (PSCA), part of the American Retirement Association (ARA), is giving retirement plan sponsors at nonprofit organizations an opportunity to participate in, and... Read More