Ask the Experts December 13, 2022
Is There Any Update on Using CITs in 403(b) Plans?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Reported by
PS
I read your Ask the Experts column from 2016 where you indicate that collective investment trusts, for the most part, could not be used in 403(b) plans. Any update on that?
Kimberly Boberg, Taylor Costanzo, David Levine and David Powell, with Groom Law Group, and Michael A. Webb, senior financial adviser at CAPTRUST, answer:
As of this writing, that is still the case. However, there is legislation pending on a variety of retirement plan issues that would change this. At this point it is possible that such legislation will pass this month (December) but as of this writing it is uncertain whether the CIT provision will be included. If legislation is not passed in December, it may take some time for retirement plan legislation to be reintroduced, as a new Congress will be in session.
NOTE: This feature is to provide general information only, does not constitute legal advice and cannot be used or substituted for legal or tax advice.
Do YOU have a question for the Experts? If so, we would love to hear from you! Simply forward your question to Amy.Resnick@issgovernance.com with Subject: Ask the Experts, and the Experts will do their best to answer your question in a future column.
Kimberly Boberg, Taylor Costanzo, David Levine and David Powell, with Groom Law Group, and Michael A. Webb, senior financial adviser at CAPTRUST, answer:
As of this writing, that is still the case. However, there is legislation pending on a variety of retirement plan issues that would change this. At this point it is possible that such legislation will pass this month (December) but as of this writing it is uncertain whether the CIT provision will be included. If legislation is not passed in December, it may take some time for retirement plan legislation to be reintroduced, as a new Congress will be in session.
NOTE: This feature is to provide general information only, does not constitute legal advice and cannot be used or substituted for legal or tax advice.
Do YOU have a question for the Experts? If so, we would love to hear from you! Simply forward your question to Amy.Resnick@issgovernance.com with Subject: Ask the Experts, and the Experts will do their best to answer your question in a future column.