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
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403(b) Plans
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
BY Nevin E. Adams, JD | 3/13/2019
“After vigorous advocacy and negotiation,” the parties in a 403(b) university excessive fee suit have come to terms.
The settlement – stuck between participant-plaintiffs Diane G. Short, Judith... Read More
BY Nevin E. Adams, JD | 2/14/2019
For the second time in about as many weeks, an excessive fee suit against the fiduciaries of a university 403(b) plan has been dropped.
The original suit had been filed by two participants on... Read More
BY Nevin E. Adams, JD | 1/28/2019
Despite allegations of charging fees 10 times what they should be, an excessive fee suit against fiduciaries of a university 403(b) plan has been dropped.The suit was brought against the $4.2 billion... Read More
BY John Iekel | 1/16/2019
Strong majorities of 403(b) plan sponsors are expanding the tools they are using to govern their plans, according to a recent report. And that applies not only to 403(b)s governed by ERISA, but also... Read More
BY NAPA Net Staff | 1/4/2019
A new report finds some marked improvements among ERISA-covered 403(b) plans.
“The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at ERISA 403(b) Plans, 2015,” released by... Read More
BY NAPA Net Staff | 12/20/2018
Sponsors of 403(b) plans evince a high level of awareness of fiduciary duties, the Plan Sponsor Council of America (PSCA) found in a recent study it conducted. It also found that changes to plan... Read More
BY Kristine Coffey | 12/7/2018
Why attend the 30th Anniversary NTSA Summit? It’s the highlight of my professional year!This is because of the following: NETWORKING with the best of the best, the role model Elite Advisors... Read More
BY Nevin E. Adams, JD | 12/4/2018
The parties in a university 403(b) excessive fee suit have struck a deal.The news – though specifics of the deal were not disclosed – was revealed in a docket entry in North Carolina federal court.... Read More
BY NAPA Net Staff | 11/14/2018
New research published by the National Tax-Deferred Savings Association (NTSA) confirms that there is a connection between the number of options — and advisors — available to employees in public... Read More
BY Nevin E. Adams, JD | 10/1/2018
Four universities have now won their case in court against excessive fee claims.The most recent victor is St. Louis-based Washington University in a suit involving the $3.8 billion Washington... Read More
BY NAPA Net Staff | 9/26/2018
403(b) plan sponsors are increasingly embracing automatic plan designs – and the use of advisors, according to a new industry survey.According to the 2018 annual 403(b) Plan Survey from the Plan... Read More
BY Nevin E. Adams, JD | 7/20/2018
A number of claims were dismissed in a university 403(b) excessive fee suit – but the “wins” appear to have been mostly by forfeit.The plaintiffs might well have seen a negative result coming when... Read More
BY Nevin E. Adams, JD | 7/5/2018
Another suit has been filed in the aftermath of the theft of retirement plan money by third-party administrator Vantage Benefits – this one against the custodian – and by plaintiffs looking to... Read More
BY NAPA Net Staff | 6/11/2018
The National Tax-Deferred Savings Association (NTSA) and the American Retirement Association are pleased to announce the publication of Best Practices for 403(b) and 457(b) Plans.The manual is... Read More
BY Nevin E. Adams, JD | 6/5/2018
The plaintiffs in a 403(b) university plan excessive fee lawsuit have been allowed to add another claim to that suit: that fiduciaries failed to protect plan assets by allowing third parties to... Read More
BY Nevin E. Adams, JD | 5/29/2018
Another one of the initial 403(b) university plan excessive fee suits has had its day in court.The suit, filed against Northwestern University in 2016 by the law firm of Schlichter Bogard &... Read More
BY Nevin E. Adams, JD | 5/16/2018
A new excessive fee suit claims that participants in a university 403(b) plan have paid fees “close to 10 times what they should be.”The latest in a series of suits brought against university 403(b)... Read More
BY Nevin E. Adams, JD | 4/30/2018
The University of Pennsylvania defendants have gotten a lot of support from “friends” in the appeal of the first 403(b) excessive fee suit to come to trial.The suit, brought by participants in the $3... Read More
BY Nevin E. Adams, JD | 4/30/2018
It’s a war of “words” – or word count – in a motion to reject the input from amicus curiae filings in an excessive fee case.The plaintiff in the excessive fee suit involving the administration of the... Read More
BY John Iekel | 4/11/2018
A group of 14 private colleges and universities in Virginia plans to create a 403(b) multiple employer plan (MEP). The group is one of the first in the higher education market to take such an action.... Read More
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