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July 18th, 2017 |
| Consequence of Offering Non-Eligible Investments“What is the consequence of a plan that, though written to permit only 403(b) eligible investments (403(b)(1) fixed/variable annuities and /or 403(b)(7) custodial accounts (mutual funds)), actually offers investments that do not qualify as 403(b) investments in plan operation? Is this a defect that can be self-corrected?”Read more > |
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ERISA Suit Challenging Voya Stable Value Funds RejectedThe U.S. District Court for the District of Connecticut has dismissed without prejudice a class-action Employee Retirement Income Security Act (ERISA) challenge filed by a participant on behalf of the Cedars-Sinai Medical Center 403(b) Retirement Plan. Darlene Dezelan, the lead plaintiff, alleged in the suit that Voya Retirement Insurance and Annuity Company improperly profited from stable value funds offered to the plan through annuity contracts.Read more > |
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Social Security May be Adequate for Low-Income WorkersAround the country, more than half of state governments are pushing to establish automatically enrolled individual retirement accounts (IRAs) for low-income workers, who most likely are not being offered a retirement plan at their workplace, notes the American Enterprise Institute. The Institute questions whether this would benefit low-income workers.Read more > |
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Consequence of Offering Non-Eligible Investments“What is the consequence of a plan that, though written to permit only 403(b) eligible investments (403(b)(1) fixed/variable annuities and /or 403(b)(7) custodial accounts (mutual funds)), actually offers investments that do not qualify as 403(b) investments in plan operation? Is this a defect that can be self-corrected?”Read more > |
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