403(b) PEPs are great, but….

The idea that we can have 403(b) Pooled Employer Plans is great news because what could work well for 401(k) plans, may mean great stuff for 403(b) plans.

The problem with 403(b) plans has always been in the non-ERISA space, where the rules regarding the Department of Labor on fee transparency, fiduciary responsibility, and reasonable fees don’t exist. The ills of 403(b) plans can be extinguished if pooled employer plans are extended to the school districts where there are too many competing plan providers with too much cost for plan participants.

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