Wise Information for Higher Ed Employees



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Employer Information: Key Issues and Trends

Higher Ed Issues

  • Lawsuits over retirement plan fees
  • Lack of objective participant education
  • Single vendor vs. multi vendor 
  • Plan compliance 
  • Determining ERISA applicability
  • Fiduciary role  

Higher Ed Trends

  • Vendor consolidation 
  • Auto enrollment 
  • Auto escalate
  • Roth 403(b)

Key Employer Duties

  • Maintain written plan documents
  • (ERISA plans) File an annual Form 5500 (including a plan audit)
  • Monitor contribution limits
  • Ensure compliance with rules for participant loans

IRS: Operate and Maintain a 403(b) Plan

Higher Ed Stories

Benefit Must-Knows and Checklist

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Key higher education benefit information.