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September 27th, 2022 Information & Insights for the 403(b) Community Senate Hearing Highlights Senior Scams and New Institutions to Combat Them An advisory group on preventing senior scams was highlighted in a Senate hearing Thursday that discussed the broader issue of fraud directed at seniors. Wake Forest University Retirement Plan Lawsuit Will Proceed The plaintiffs’ claims survive the defendants’ motion to dismiss Ask the Experts Does a plan’s name have to change when a plan sponsor’s name changes? "Have you ever seen a plan sponsor go through a name change? I work with a 501(c) private tax-exempt health care client that is changing its name for branding purposes and has asked if there is anything it needs to do in terms of its 403(b) and 457(b); both plan names include the current organization name. I’m directing the client to its retirement plan counsel, of course, but was curious if the Experts had ever encountered this. Does the plan name typically change as well? The plan sponsor name is listed in the plan document, so I assume this requires an amendment at a minimum." Partnership Expands Retirement Plan Coverage to Underserved Markets The service from Transamerica, Smart, and Finhabits is meant to be an affordable alternative to state-mandated retirement plans. Defendants Move to Dismiss Retirement Account Cyber-Theft Case A total of $750,000 was stolen from a retirement account managed by the defendants—who, the plaintiff alleges, ignored many red flags. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 400, Rockville, MD 20850