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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403(b) Plans
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
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
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