Overview
Joseph Urwitz and Todd Solomon both cited reasons why the recent rise in lawsuits against 403(b) plans is not warranted. Mr. Urwitz cited the fact that 403(b) plans now have written plan documents like 401(k) plans, meaning “the differences between the two have decreased over the years.” Mr. Solomon added that in large institutions with good governance, 403(b) plan sponsors “are taking great care to manage their plans and do all they need to do.”
