Nearly six of 10 nonprofit sponsors of 403(b) plans are not planning any changes to their retirement plans when the Department of Labor's fiduciary rule is implemented, according to a survey by the Plan Sponsor Council of America.
A static approach to the impending rule, which has an April 10, 2017 implementation date, was seen across 403(b) plans of all sizes, PSCA found.
Among plans with more than 1,000 participants, more than half are not planning any changes. For the smallest plans with less than 50 participants, more than 67 percent plan to maintain the status quo.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
