Recordkeepers Dedicated to Serving 403(b) Plans Are EstablishedTen years after Internal Revenue Service (IRS) regulations went into effect, 403(b) plans are looking more similar to 401(k)s, but differences still remain. Following the new regulations, recordkeepers had to decide whether they could accommodate the new regulations given the differences in 403(b) plans. Many exited the business. According to PLANSPONSOR’s 2018 Recordkeeping Survey, top 403(b) recordkeepers include many different firms than those for 401(k) plans, showing certain firms have dedicated themselves to the 403(b) market.Read more > |
Matrix Trust Company Sued Over Asset Transfers From 403(b) PlansMatrix is being sued for violating its fiduciary duties because it did not verify that the transfers were authorized by the participants in the 403(b) plans or permissible under the terms of the plans.Read more > |
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