Search
 

Sponsors of 403(b) plans unfazed by DOL rule

Retirement plan sponsors in the nonprofit world may think the DOL fiduciary rule doesn't apply to them, a survey from PSCA suggests -- but this might be an opportunity for advisors and providers to offer help, says Principal's national 403(b) practice leader, Aaron Friedman.

By Nick Thornton | Updated on December 14, 2016
Among the smallest 403(b) plans, only 55 percent of plan sponsor respondents said they were aware of the fiduciary rule.(Photo: Getty)

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.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Nick Thornton

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.

More from this author

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.