Pennsylvania law requires multiple record keepers for 403(b), 457 plans

RPA President Joshua Schwartz's take on the law requiring multiple record keepers for 403(b), 457 plans. | June 14, 2019


A new law in Pennsylvania will require school districts sponsoring certain retirement plans to use at least four service providers, which advisers say runs counter to best practices and will perpetuate an environment of higher record-keeping and investment-management fees.

Click through to read RPA President Joshua Schwartz’s take on the Pennsylvania law requiring multiple record keepers for 403(b), 457 plans.