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October 6th, 2017 |
| Keeping Money in the PlanThe ability to borrow against their savings can be a valuable benefit to retirement plan participants wanting to buy a home or cover a large sudden expense; it also gives them flexibility to deal with short-term financial issues. But loans may harm participants’ ability to save long term.Read more > |
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ASK THE EXPERTS
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Groom Law Group and Cammack
Retirement Group will field your
questions concerning 403(b) plans
and regulations. Email rebecca.moore@strategic-i.com with Subject
Ask the Experts
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Johns Hopkins University ERISA 403(b) Challenge Partly DismissedThe U.S. District Court for the District of Maryland has granted in part and denied in part defendants’ motion to dismiss an Employee Retirement Income Security Act (ERISA) lawsuit targeting the 403(b) plan of John Hopkins University. Using logic from decisions in other university 403(b) plan cases, the court agreed that allegations that a university offering actively managed funds was imprudent supports a breach of fiduciary duty claim under ERISA. However, the judge said plaintiffs fail to state a claim to the extent that plaintiffs allege that offering plan participants too many investment options is imprudent and fail to state a claim to the extent that plaintiffs allege that including higher-cost share classes in the plan, instead of available lower-cost share classes of the same funds, is imprudent.Read more > |
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