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September 25th, 2018 |
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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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Sanctions Called for Workers and Attorneys in NYU 403(b) LawsuitNew York University, which recently defeated a lawsuit against management of its 403(b) plans, called for sanctions against the workers and attorneys from Schlichter Bogard & Denton behind the now-dismissed proposed class action suit arguing that their suit had been an attempt to avoid unfavorable rulings in an earlier, identical case. There were four different bases on which the court could sanction the workers and their attorneys, for their “frivolous and vexatious conduct,” the university said.Read more > | ERISA Section 404(c): Back to BasicsTo be 404(c) compliant, a plan must offer a broad range of investment options and make it possible for participants to view and control their investments; the prescription sounds simple, but it can be confusing in practice.Read more > | The Perils of Ignoring Participant ComplaintsParticipants do lodge complaints against their retirement plans from time to time, and all of these complaints should be addressed, experts say. If a retirement plan sponsor ignores a participant complaint, that participant is liable to turn to the Department of Labor (DOL) on their own or hire a lawyer who will do so on their behalf, says Blaine Aikin, executive chairman of Fi360 in Pittsburgh.Read more > | Employees Would Value Employer-Sponsored Emergency Savings ProgramThe “Saving at Work for a Rainy Day” report indicated that seven in ten employees would likely participate in an employer-based rainy-day savings program.Read more > | Rising Short-Term Interest Rates Can Benefit Retirement InvestorsHigher short-term rates translate into additional income for investors from their bond portfolios, and their fixed-income allocation should provide greater ballast for the more volatile equity component of their portfolios, says Joseph Davis, with Vanguard.Read more > |
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