Groom’s David Ashner, of counsel, was quoted in the PLANSPONSOR article, “How 403(b) Plans Became More Like 401(k) Plans,” where he examined trends moving away from 403(b) plans after changes brought forth by SECURE 2.0.
“It used to be that a plan sponsor could just sign up and get out of the way and let the plan vendor take care of everything, but that’s no longer the case,” Ashner said.
“[The Setting Every Community Up for Retirement Act] and SECURE 2.0 [Act of 2022] continued the trend of 401(k)-ifying the 403(b),” he continued. “Now a new employer has less reason to prefer a 403(b).”
To read the article, click here.
