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March 28, 2017
In This Issue
Many Higher Education Faculty Feel Like Novice Investors
ERISA Legality Claims Need Not Be Administratively Exhausted
Bulk of Target-Date Funds in Retirement Accounts
When to Expect 403(b) Pre-Approved Plans
Many Higher Education Faculty Feel Like Novice Investors:
Both faculty and non-faculty members say they feel confident they will have enough money to pay for basic expenses in retirement—87% for professors and 80% for non-faculty members, according to Fidelity Investments’ 2017 Higher Education Faculty Study. However, while both groups are good savers, they still face their own issues when preparing for retirement. Read more »
ERISA Legality Claims Need Not Be Administratively Exhausted:
The 6th U.S. Circuit Court of Appeals has reversed a district court’s holding that participants in Cumberland University’s 403(b) plan must exhaust all administrative remedies under the plan before filing suit against the plan fiduciaries. The appellate court found some claims questioned the legality of a plan amendment, which it said are issues for courts to decide. Read more »
IN CASE YOU MISSED IT
When to Expect 403(b) Pre-Approved Plans:
“I’ve been reading about the remedial amendment period for 403(b) plan documents. Does this mean that pre-approved 403(b) plans will be available for use soon?” Read more »
Bulk of Target-Date Funds in Retirement Accounts:
As of December 31, 2016, target-date mutual fund assets totaled $887 billion, up 1.5% in the fourth quarter and up 16.3% for the year, according to data from the Investment Company Institute (ICI). Retirement accounts held the bulk of target-date mutual fund assets: 88% of target-date mutual fund assets were held through defined contribution (DC) plans (67% of the total of DC plan assets). Read more »

EDITORIAL Rebecca Moore | rebecca.moore@strategic-i.com

ADVERTISING Paul Zampitella | paul.zampitella@strategic-i.com

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