For one thing, the plaintiff argues the briefs filed in support of the University of Pennsylvania provide the university an argument word-count advantage.
Tag: 403(b) plans
An amici curiae brief filed by the American Council on Education and other higher education associations details the history of higher education 403(b) plans.
The goal is to reduce fees and administrative burdens for plan sponsors while providing better services for plan participants.
A federal district court judge denied dismissal of most violation of duty of prudence claims.
The university also asks that the plaintiffs not be able to attempt to use evidence that their prudent measures and conduct that occurred subsequent to the plaintiffs’ filing of the lawsuit proves that prior conduct was imprudent.
A memo says examiners should not challenge a 403(b) plan for violation of the RMD standards for the failure to commence or make a distribution to a participant or beneficiary to whom a payment is due, if the plan sponsor has taken certain steps.
The plan was frozen in 2007 and replaced with a 403(b) plan.
In addition, a federal judge dismissed a third complaint against NYU—naming its adviser as a defendant—as a duplicative action.
“I work as an administrator in my local church—recently hired in this position after working in the same position for another church of the same denomination.
“Our firm sponsors an Employee Retirement Income Security Act (ERISA) 403(b) plan that has a two-year service requirement (100% vested after two years) in which the hours-counting method (1,000-hour requirement) is used.
Many participants do not know about the credit, the Transamerica Center for Retirement Studies found.
“I read in an Ask the Experts column that the Employee Retirement Income Security Act (ERISA) requires plan sponsors to retain plan documentation for at least six years, and, in many cases, much longer than that.
The plaintiffs claim plan fiduciaries repeatedly failed to monitor the share classes of mutual fund investments and to substitute less expensive share classes of mutual funds for more expensive ones.
The provider of retirement planning services to public education and nonprofit organizations says that the websites provide information on retirement for individuals at every career and life stage, as well as employers and advisers.