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Consultants brief subcommittee on pending DC regulatory changes, litigation risks and recordkeeper oversight
Summary
Presenters reviewed potential changes affecting defined-contribution plans, including 403(b) access to collective investment trusts under the SEC, possible eligibility shifts to age 18, fiduciary-rollover disclosure proposals, litigation (LoperBright) affecting Chevron deference, and industry cases over use of forfeitures.
Simsbury — Tyler, presenter, gave the Retirement Plan Subcommittee an overview of pending federal regulatory and litigation developments that could affect the town’s defined-contribution plans and the record‑keeper oversight work the committee performs.
Tyler said the Secure Act contains a provision that could allow 403(b) plans to gain access to collective investment trusts (CITs) but noted SEC and regulatory guidance is still pending: "...we're kind of in a holding pattern specifically for 3B plans," he said. Consultants explained CITs generally offer lower fee access to pooled strategies compared…
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