Overview
Joseph Urwitz and Todd Solomon addressed litigation against 403(b) pension plans. Mr. Urwitz noted that differences between these plans and 401(k) plans “have decreased over the years,” adding that 403(b)s are “putting themselves in a better position” by working with fund providers and record-keepers to reduce cost. Mr. Solomon added that 403(b)s are no longer part of a “wild, wild West” of plans, and agreed that 403(b)s which “take steps to look at their processes” for fees and investments can avoid problems.
