Headlines about "403(b) plans"
Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] Proposed Regs, Class PTE, Liberalize Exemption for Provision of Investment Advice to Self-Directed Plan Participants
Excerpt: "These proposals are intended to implement changes made to ERISA §408(b)(14) and ERISA §408(g) by the PPA. ERISA §408(b)(14) provides an exemption from certain prohibited transaction provisions in ERISA with respect to the provision of investment advice, and the direct or indirect receipt of fees or other compensation by the fiduciary adviser or an affiliate. ERISA §408(g) describes the conditions under which the investment advice-related transactions are exempt." (Wolters Kluwer)
SPARK Answers Questions on 403(b) Info Sharing Best Practices
Excerpt: "The SPARK Institute has announced the release of a question and answer Web page to address questions it received following the release of its 'Best Practices for 403(b) Plans Information Sharing -- Minimum and Comprehensive Data Elements' in July. 'The SPARK Institute will maintain this site and update it periodically with answers to questions it receives,' said Larry H. Goldbrum, general counsel of The SPARK Institute, in the announcement. Goldbrum encouraged 403(b) plan sponsors and providers to submit questions to data-elements.questions@sparkinstitute.org, which will be reviewed and answered on the site to the extent possible. . . . The questions and answers Web page is at www.sparkinstitute.org/403b-q-a.php." (PLANSPONSOR.com; free registration required)
[Guidance Overview] Final 403(b) Regulations—and How They Affect Plan Sponsors
Excerpt: "Sponsors of 403(b) plans -- typically school districts, higher education institutions, health care providers, and charitable organizations -- will soon have increased responsibilities for overseeing investments, transfers, documentation, administration, and participants' disclosures. 'Under these new regulations, a greater level of employer involvement will be necessary . . . .'" (The Vanguard Group)
[Official Guidance] 403(b) Plans: What Non-Discrimination Rules? Discussion on Universal Availability
Excerpt: "Yes, Virginia, the Internal Revenue Code does have non-discrimination rules for 403(b) plans. And the rules have been expanded in the Treasury Regulations that go into effect at the beginning of 2009 - found in section 403(b)(12)." (PLANSPONSOR.com; free registration required)
The New 403(b) Plan Documents and ERISA
Excerpt: "A Title I 403(b) program is not only required to file a full Form 5500 in 2009 (complete with expensive audited financials, for the larger plans), but it will also be subject to that whole range of recently promulgated ERISA rules which apply to 401(k) plans: investment advice, the participant fee disclosures rules and the service provider rules, as well as the old standards including ERISA's prohibited transaction and fiduciary rules. Toss in the plan asset 'deposit rules' and the PPA statement rules, along with other ERISA minutia and you begin to get a flavor of what it means to be covered by Title I." (Baker & Daniels)
[Guidance Overview] Certain Year-End and Early 2009 Deadlines Approaching for Retirement and Welfare Benefit Plans
Excerpt: "As the end of the calendar year fast approaches, sponsors of retirement and welfare benefit plans should review those plans (including the administration of those plans) to make sure such plans are (or will be) in compliance with year-end and early 2009 requirements." (Bond, Schoeneck & King, PLLC)
403(b) Participants Accumulate Less Retirement Savings than 401(k) Participants
Excerpt: "A new Spectrem Group report finds lower savings rates, fewer employer match contributions, and conservative investing habits could account for a lower accumulation of retirement savings for 403(b) plan participants when compared to their 401(k) counterparts." (PLANSPONSOR.com; free registration required)
[Official Guidance] IRS 'Employee Plan News' Discusses Notice 2008-62 Anticipating 457(f) Regs as Applied to Certain School Employees (PDF)
Excerpt: "The use of a 12-month pay period that spans two calendar years for employees that actually only work for 9 or 10 months results in compensation earned in one year being deferred to a second year. [Notice 2008-62, issued in early July,] establishes criteria which, if met, excludes arrangements in which school employees are compensated on a 12-month pay period in lieu of the 9 or 10-month actual work period from being considered as deferred compensation and, therefore, not subject to the rules under Code §§457(f) and 409A. In fact, the notice provides that this arrangement wouldn't result in deferred compensation as long as the employee earns less than $186,000." (Internal Revenue Service)
Preparing for after the 403(b) Compliance Deadline
Excerpt: "New 403(b) rules mean sponsors can look for more Internal Revenue Service audits following the January 1, 2009 compliance deadline. However, Elaine Immerman, Associate General Counsel at TIAA-CREF, told attendees of The SPARK Institute's 403(b) Plans Issues & Answers Forum, 'The IRS is telling us they're going to be reasonable.'" (PLANSPONSOR.com; free registration required)
New 403(b) Rules Create Benefits for Employers
Excerpt: "Sponsors of 403(b) plans are facing challenges in getting into compliance with 403(b) regulations, but John Arant, Head of 403(b) Markets Growth, Lincoln Financial Group, wants them to know the resulting environment will be a good thing. The new rules will allow sponsors to have better control and oversight of plan features and transactions, getting their programs more organized, Arant told attendees of The SPARK Institute's 403(b) Plans Issues & Answers Forum." (PLANSPONSOR.com; free registration required)
[Opinion] Baby Boomers Had Better Plan on Working Past Age 65; Procrastination and DC Plan Designs at Fault
Excerpt: "The inconvenient truth that most investors in their 40s and 50s need to hear is that no investment product can make up for decades of little or no saving. That is why baby boomers must stay in the 'accumulation phase' until they have achieved a minimum of 10 times their final salary." (Jane White in Investment News)
[Guidance Overview] Clarifying 'Information Sharing Agreements'
Excerpt: "The new 403(b) regulations introduced a new term of art into the industry, the 'Information Sharing Agreement.' Conversations that I have had with a number of consultants, attorneys and IRS officials reveal that this is a term which is still seeking a meaning, and which is causing a bit of confusion in the marketplace. I thought I would try to bring some clarity to the term 'ISA' (or perhaps, add to the confusion). Here's what I think we've got . . . ." (Bob Toth via Baker & Daniels)
NAGDCA 2008 Survey of State and Local Government Defined Contribution Plans II
Excerpt: "This report contains two sections. The National Summary provides a narrative overview of the key areas involved in administering governmental 457, 401(k), 401(a), and 403(b) plans. The Overall Survey Results section, provided as a PDF, offers a look at the survey through charts and responses from all participating entities." (National Association of Government Defined Contribution Administrators, Inc.)
[Guidance Overview] Deadline for Compliance with Final Regulations under Code Section 403(b) for Tax-Deferred Annuity Plans (PDF)
4 pages. Excerpt: "By December 31, 2008, all Code Section 403(b) tax-sheltered annuity plans (also known as 403(b) annuities, or tax-deferred annuities, and referred to in this article as a '403(b) Plan') must be reviewed and will likely need to be amended to ensure compliance with the final Code Section 403(b) regulations. If you have not already started this process, action to review and amend your 403(b) Plans must begin soon in order to meet the December 31, 2008, deadline . . . . This advisory reminds employers eligible to offer a 403(b) Plan (including unwritten non-ERISA 403(b) arrangements) about action items that must be completed in 2008, and also provides some highlights from the final Code Section 403(b) regulations." (Alston & Bird LLP)
[Official Guidance] Aug. 14 Special Edition of IRS Employee Plans News: Announcing Rev. Proc. 2008-50, Including Survey to Practitioners (PDF)
2 pages. Excerpt: "[The] Self-Correction Program . . . has been expanded with respect to employers who discover failures in their plans and have begun the correction process. The time by which a plan sponsor substantially corrects a significant operational failure, and is thereby entitled to use SCP, has been liberalized . . . . [Excess annual additions in DC plans under section 415] will be corrected in accordance with the provisions of this revenue procedure . . . . Streamlined Voluntary Correction Program Application Procedures . . . have been significantly expanded to include the following failures: . . . " (Internal Revenue Service)
[Official Guidance] Text of Rev. Proc. 2008-50: Employee Plans Compliance Resolution System, Updating and Expanding Rev. Proc. 2006-27 (PDF)
179 pages; the document's table of contents does not include page numbers, but it is the version released to the public today. See pages 8 through 10 for a summary of the modifications being made to the previous version of EPCRS (Rev. Proc. 2006-27). Excerpt: "This revenue procedure updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of § 401(a), 403(a), 403(b), 408(k), or 408(p) . . . but that have not met these requirements for a period of time. . . . This revenue procedure modifies and supersedes Rev. Proc. 2006-27." (Internal Revenue Service)
[Guidance Overview] 403(b) Retirement Plan Will Get a 401(k)-Like Makeover
Excerpt: "Q: What are the 'major' changes going into effect Jan. 1 on the 403(b) program that the IRS and U.S. Labor Department are implementing? A: On July 23, 2007, the Internal Revenue Service finalized new regulations for 403(b) retirement plans -- savings plans for tax-exempt workplaces -- to make them look more like their cousins, 401(k) retirement plans sponsored by private-sector companies." (Houston Chronicle)
[Guidance Overview] Choosing Between 401(k) and 403(b): Legal Considerations for Non-Profit Employers Other Than Public Schools
Excerpt: "In the wake of the 403(b) regulations under the Internal Revenue Code, tax-exempt entities are asking whether they should forget the 403(b) arrangement and adopt a 401(k) plan instead. (Public schools don't have the option; government entities haven't been able to sponsor a 401(k) plan since the Tax Reform Act of 1986.) Some considerations are highlighted below." (PLANSPONSOR.com)
[Guidance Overview] DOL's Proposed Regulations Governing Fee Disclosures to Participants (PDF)
6 pages.Excerpt: "This is the third and final set of regulations proposed by the DOL to address fees paid through defined contribution plans." (Alston & Bird LLP)
[Guidance Overview] Proposed New Disclosure Requirements for All Participant-Directed Plans
Excerpt: "The regulations were issued in proposed form and are subject to a comment period. While the DOL may modify certain provisions of the proposed regulations in response to comments, given the DOL's long-expressed concerns regarding investment and fee disclosures, it should be anticipated the rules set forth in the proposed regulations largely will be retained." (Bond, Schoeneck & King, PLLC)
[Guidance Overview] DOL's Proposed New Investment Disclosure Regulation
Excerpt: "The regulations would apply to all individual accounts plans subject to ERISA which provide for participant-direction of investment. This includes most 401(k) and 403(b) plans subject to ERISA, whether or not the plan seeks fiduciary protection under ERISA §404(c)." (SunGard)
[Guidance Overview] Managing Your 403(b) Plan - Is It Like Herding Cats?
Excerpt: "Right now, the vast majority of 403(b) plans are loose financial arrangements with too many investment choices and very little, if any, employer involvement. A so-called non-employer-sponsored, or non-ERISA, plan is essentially an accommodation by employers to allow their employees to have pre-tax salary deferrals deposited into a tax-sheltered annuity or an Internal section 403(b)(7) custodial account established for them." (Chang, Ruthenberg & Long PC)
[Guidance Overview] Automatic Contribution Arrangements: How to Implement; Pros and Cons (PDF)
Excerpt: "The 2006 Pension Protection Act includes provisions intended to make retirement saving easier by automatically enrolling employees in 401(k) and 403(b) plans and automatically investing their contributions in suitable investment funds unless and until they choose different investments. . . . The purposes of this letter are to outline the steps an employer must take to use these alternatives, and the pros and cons of so doing." (Kelly, Hannaford & Battles P.A.)
[Guidance Overview] Department of Labor Requirements for Participant-Directed Investments (PDF)
5 pages. Excerpt: "WHO'S AFFECTED These requirements apply to: Qualified defined contribution plans, ERISA 403(b) plans, and Voluntary employee account portions of defined benefit plans that allow participants and beneficiaries to direct the investment of their individual accounts, and that have chosen to take advantage of the fiduciary liability protection afforded by the ERISA section 404(c) regulations." (Prudential Retirement)
[Guidance Overview] Impact of the Heroes Earnings Assistance and Relief Act of 2008 on Your Employee Benefit Plans
6 pages. Excerpt: "This newsletter explains how HEART's provisions impact sponsors' administration of health FSAs, qualified 401(k) and other retirement plans, and 403(b) tax-sheltered annuities." (Utz, Miller, Kuhn & Eickman, LLC)
[Guidance Overview] 403(b) Plans - Compliance Issues
Excerpt: "Attendees of a panel discussion at PLANSPONSOR's first-ever 403(b) Summit got a bird's-eye view of the enormous amount of work that lies ahead. That is because, panelists told plan sponsors, providers, lawyers, and other professionals at PLANSPONSOR's 403(b) Summit, 403(b) sponsors have until January 1, 2009, to get their regulatory house in order on many important issues." (PLANSPONSOR.com; free registration required)
[Guidance Overview] Communicating 403(b) Changes to Your Employees
Excerpt: "Be sure to develop a 403(b) communications strategy for employees which explains: 403(b) sponsors must comply with these new IRS rules to keep employees' 403(b) retirement benefit tax deferred; these new IRS rules will mean that there are new 403(b) plan do's and don'ts, including greater employer oversight over participant transactions; and as plan sponsor, you are committed to communicating these changes to your employees to facilitate a painless and seamless transition to operate under the new IRS rules." (PLANSPONSOR.com; free registration required)
The SPARK Institute Releases a 'Non-ERISA-Covered 403(b) Plans Request for Proposal Guide'
Excerpt: "The free guide for sponsors will aid with the vendor search prompted by 403(b) plans regulations issued by the Internal Revenue Service (IRS), according to a release. SPARK said the guide will help simplify the vendor selection process and can be used with both single and multiple vendor searches. [Registration required to access the document.]" (planadvisor)
Advisers See New Life for 403(b) Market with Revamped Rules
Excerpt: "They think that the rules, which will make 403(b) plans more like 401(k) plans by requiring sponsors to maintain written plan documents, will help them garner more business from the non-profit schools, religious entities and health care providers that offer the plans." (Investment News; free registration required)
SPARK Updates 403(b) Info Sharing Practices to Reflect DTCC Project
Excerpt: "The SPARK Institute released a new version of its 'Best Practices for 403(b) Plans Information Sharing -- Minimum and Comprehensive Data Elements' reflecting a project by the Depository Trust & Clearing Corporation (DTCC) to develop an information sharing service." (PLANSPONSOR.com; free registration required)
403(b) Plans: Covered by ERISA or Exempt? Considering the Pros and Cons of ERISA Compliance
Excerpt: "In light of the new IRS 403(b) regulations, many tax-exempt employers are evaluating whether to continue efforts to keep their 403(b) plans exempt from the Employee Retirement Income Security Act of 1974 (ERISA). Employers need to consider the various factors, both positive and negative, in deciding whether to subject a 403(b) plan to ERISA.' (Davis Wright Tremaine LLP)
[Guidance Overview] New Rules for 403(b) Arrangements (PDF)
8 pages. Excerpt: "These developments affect sponsors of and participants in ERISA and non-ERISA 403(b) arrangements." (Prudential Retirement)
New 403(b) Regulations - Followed by a Stepped Up IRS Audit Program to Ensure Compliance
Excerpt: "The first stage in the IRS initiative came in June 2007, when the IRS launched an outreach project aimed at ensuring that school districts across the country are complying with the universal availability requirement. Roughly a month later, the IRS released the final 403(b) regulations, giving plans and plan sponsors until the beginning of next year to comply with new document and operational rules." (PLANSPONSOR.com; free registration required)
[Guidance Overview] 403(b) Plan Terminations: FAQs
Excerpt: "[The] questions and answers address several of the more important issues regarding 403(b) plan termination." (SunGard)
403(b) Rule Changes Spur New Approach
Excerpt: "With new 403(b) regulations looming, plan providers, consultants and plan sponsors are changing how they market, advise and manage the plans. The regulations, effective Jan. 1, require plan executives to provide a written plan document, account for excess contributions and monitor the transfer of assets among multiple plan service providers." (Pensions & Investments)
The Standard to Provide 403(b) Program for Large Church Organization
Excerpt: "Cooperative Baptist Fellowship, working in partnership with the Church Benefits Board (CBB) and Retirement Wealth Management LLC, announced it has selected The Standard to be the provider of its $20 million 403(b) plan." (PLANSPONSOR.com; free registration required)
New 403(b) Rules Shake Up Market
Excerpt: "Amid the new landscape, some financial advisors and financial-services companies plan to expand, or establish, their presence in the 403(b) market. Others, unable or unwilling to comply with the greater administrative responsibilities, are expected to exit the business." (Dow Jones Newswires via CNNMoney.com)
[Guidance Overview] Understanding Employee Contributions to 403(b) Plans
Excerpt: "Most 403(b) plans provide employees with salary reduction agreements with which the employees can choose to have funds withheld from compensation and contributed to the 403(b) plan. They closely resemble 401(k) elective deferrals. In fact, the final regulations require that 403(b) elective deferrals follow many of the requirements of the 401(k) regulations." (SunGard Corbel LLC)
403(b)s Brace for Big Changes
Excerpt: "Big changes are brewing in the 403(b) world. For the first time in 40 years, the Internal Revenue Service is mandating new requirements that aim to make the plans more like 401(k)s. For many 403(b) providers, the biggest challenge won't be figuring out how to meet the new requirements, but getting plan sponsors to start preparing early enough so the Jan. 1, 2009 deadline doesn't come as a shock." (On Wall Street)
[Guidance Overview] A Comparative Look at 401(k), 403(b), and 457(b) Plans (PDF)
Pages 5-8 of 12 pages. (Milliman)
IRS Updating Guidance to Provide Corrective Measures for 403(b) Plans, Official Says
Excerpt: "The IRS is in the process of updating its Employee Plans Compliance Resolution System (EPCRS) program and expects to issue a new revenue procedure in the next couple of months that will begin addressing the new regulatory requirements for 403(b) plans, IRS tax specialist Robert Architect said at a D.C. Bar program meeting on May 27, 2008." (Wolters Kluwer)
[Guidance Overview] Breaking from a Long-Term 403(b) Provider
Excerpt: "A private college wanted to modernize its traditional retirement program, including moving away from its longstanding relationship with a bundled mutual fund/annuity provider. Upon notification of the transfer of recordkeeping and plan assets, the provider informed the college that both its 403(b) and 401(a) plans were covered under contracts between the provider and individual employees, although no copies of the contracts could be found. The employer knew this was the case for the 403(b) plan, but it was unexpected news about the employer-sponsored 401(a) plan." (Milliman)
The Evolution of 403(b)
Excerpt: "A written plan document, coordination of distribution and transfer activity, contribution limits, and remittance timing: Under the new IRS regulations, 403(b) plan structure and administration will look much more like those of their Employee Retirement Income Security Act (ERISA)-governed 401(k) counterparts. Will this work for the 403(b) plan model?" (planadvisor.com)
[Guidance Overview] Year-End Deadline for Section 403(b) Plans Approaches (PDF)
2 pages. Excerpt: "In July 2007, the IRS issued final regulations that govern these plans and impose new requirements on their non-profit sponsors. These new requirements are generally effective January 1, 2009. If your organization sponsors a section 403(b) plan, you must take certain compliance steps before December 31, 2008." (Locke Lord Bissell & Liddell LLP)
[Guidance Overview] Fiduciary Focus: Fleecing 403(b) Plan Participants, Part 8
Excerpt: "How to Avoid Becoming an Ostrich about Fiduciary Duties All retirement plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) are governed by fiduciaries with distinct responsibilities (and corresponding liabilities) to plan participants (and their beneficiaries). The new IRS 403(b) regulations make clear that school districts aren't subject to ERISA. School administrators in some states, however, will find, post-Jan. 1, that they've become fiduciaries under their respective state fiduciary laws with respect to the 403(b) plans they administer." (Morningstar)
Why Pricing of 403(b) Plan Services Can be Complex
Excerpt: "If one is looking for reasons why pricing of services for 403(b) plans is so complex and confusing, a starting point might be the reality that service platforms for these defined contribution plans are actually comprised of two separate and distinct businesses that service providers attempt to combine into a single business model. This may work well for branding, but is problematic when services are bundled together for pricing purposes." (PLANSPONSOR.com; free registration required)
New York Teachers Guaranteed 8.25 Percent Return on Savings Plan
Excerpt: "The teachers' 403b savings plan is a voluntary contribution plan, similar to the 401(k)s in which millions of Americans invest. But while most investors risk a loss or a meager return, this teachers account doesn't carry such risk, because the public, in this case New York City taxpayers, guarantees a minimum return. The benefit is over and above the teachers' pension plan." (Times Union)
[Guidance Overview] 403(b) Annuities from Employee Organization Are Not ERISA Plans
Excerpt: "The U.S. District Court for the Western District of Washington has ruled that an employee organization legally cannot establish or maintain a 403(b) plan under the Employee Retirement Income Security Act (ERISA)." (PLANSPONSOR.com; free registration required)
[Guidance Overview] PPA: IRS Provides Guidance on 2008 Distribution Rules (PDF)
Excerpt: "The Pension Protection Act of 2006 (PPA) includes several provisions relating to payments made from various types of pension plans that became effective for distributions made on or after January 1, 2008. On March 5, 2008, the IRS released Notice 2008-30, providing guidance regarding the following provisions: Rollovers to Roth IRAs; Payment of gap period income on excess deferrals; Qualified Optional Survivor Annuities (QOSAs); and Calculation of lump sum benefits in defined benefit plans." (Prudential's Pension Analyst)
[Guidance Overview] Both Large and Small 403(b) Plans Should Beware of Schedules H And I
Excerpt: "I don't know how many times I have heard in the past year the comment that 'we have time,' as the first Form 5500 filings for the 2009 plan year won't be due until July 2010. Plenty of time, one would think. But both Schedule H and Schedule I require the reporting of financial data from the beginning of the year, as well as year-end data." (Baker & Daniels)
[Guidance Overview] Large AND Small 403(b) Plans: Beware of Schedules H and I
Excerpt: "Practitioners and financial service companies are all well aware of the new ways in which the Form 5500 rules apply to ERISA-covered 403(b) plans for the 2009 plan year, and many are hard at work trying to put together the pieces. There has been a particular focus on trying to figure out how to fulfill the new reporting rules under Schedules A, C and G. But those are not the only things to worry about. Take a closer look at Schedules H (Financial Information) and I (Financial Information-Small Plans)." (Baker & Daniels)
Abstract |
Excerpt: "This paper assesses the efficiency and performance of 401(k) investment options offered by a large group of US employers. We show that the majority of plans is efficient compared to market benchmark indexes. Three performance measures underscore the fact that these plans tend to offer a sensible investment menu . . . ." (University of Michigan Retirement Research Center)
Lawsuit Claims Fraud in West Virginia Teacher 403(b) Plan
Excerpt: "The lawsuit targets an investment option known as a VALIC annuity that was offered to enrollees in the Teachers' Defined Contribution plan. The plan allows members to manage investments to generate future retirement benefits. Enrollees claim they were duped into selecting the VALIC annuity." (RedOrbit.com)
EBSA Studying 403(b) Orphan Contract Problem; Link to Recorded Webcast
Excerpt: "A top Department of Labor (DoL) benefits regulator on Thursday revealed that the agency is studying ways to help 403(b) plan sponsors better deal with the difficult problem of getting an exact accounting of their orphan contracts." (PLANSPONSOR.com)
Let's Make It Cool to Save
Excerpt: "A coalition of consumer advocates, public policy groups and academics wants to attack our country's dependence on debt by creating a national campaign much like the one used to curb smoking." (Michelle Singletary in the Washington Post; free registration required)
PLANSPONSOR 2008 Ultimate Buyer's Guide: 403(b)
Excerpt: "Sponsors who decide to search for new plan vendors or a vendor that will take on the monitoring or recordkeeping function should look for providers that have 'best-in-class' investment choices . . . . Sponsors also should ask what services the providers offer and what fees they charge for the services. Finally, . . . sponsors should look for providers that are committed to the 403(b) business and the retirement readiness of participants." (PLANSPONSOR.com; free registration required)
EBSA Studying 403(b) Orphan Contract Problem
Excerpt: "A top Department of Labor (DoL) benefits regulator on Thursday revealed that the agency is studying ways to help 403(b) plan sponsors better deal with the difficult problem of getting an exact accounting of their orphan contracts." (PLANSPONSOR.com; free registration required)
Best Practices for 403(b) Plans Information Sharing – Minimum and Comprehensive Data Elements (PDF)
18 pages. Excerpt: "This document sets forth certain best practices with respect to the data elements for information sharing between 403(b) plan employers or employer representatives and vendors. The document also identifies a basic file convention layout. The document does not define best practices for: (1) the methods and frequency of data transmission, or (2) information sharing with respect to specific plan transactions or events (e.g., loans)." (The Spark Institute)
Sample 403(b) Plans' Information Sharing Agreement
13 pages. Excerpt: "The sample ISA provides: A set of sample contractual provisions, with [bracketed alternative or optional text] and italicized user notes, and A list of the data elements and information which SPARK Institute members have collectively agreed upon as minimally necessary for issuers and vendors to exchange." (The Spark Institute)
Is Your Plan Investment Menu Boxed In?
Excerpt: "If an investment committee for a participant-directed 403(b) is doing its job, the investment policy statement (IPS) serves as a road map for selecting and monitoring investments offered to plan participants." (PLANSPONSOR.com; free registration required)
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