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New Executive Order Seeks to Expand Small Business Access to Retirement Plans

President Donald Trump has signed an Executive Order instructing the Department of Labor (DOL) and the Treasury Department to consider regulations to make it easier for small businesses to offer retirement savings plans. Some have claimed that complying with current requirements has made it difficult for small businesses to band together to offer association retirement plans (ARPs), sometimes referred to as multiple employer plans. The proposed changes would allow small businesses to pool their resources to provide employees a type of 401(k) plan.

Victory for NYU After First Trial in the 401(k) Fee Cases Filed Against Colleges and Universities

In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and investment lineups in the schools’ retirement plans. On July 31, 2018, a New York federal court issued an opinion and order in favor of NYU in the first of those cases to proceed to trial, Sacerdote v. New York University.1 As the first case to consider the merits of the claims asserted in these ERISA class actions, Sacerdote is not only a significant victory for NYU but also for the other colleges and universities defending similar suits.2
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