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Non-ERISA 403(b) and SPD/document issues


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Must a Non-ERISA 403(B) plan have an SPD? A document? (I think the answer is no in each case)

Plan is with TIA/CREF. They prepared a "specimen" SPD which is stamped "For review by legal counsel"

They also send the employer checklists about amending for GUST and EGTRRA. What should an employer proving employees with non-ERISA 403(B) do with these?

Would making decisions and revising/issuing an SPD cross the line into ERISA status?

Opinions please.

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Non ERISA plans are not required to be in writing, provide SPD or file 5500. Since T/C does not provide legal advice as to whether plan is subject to ERISA it is up to legal counsel for the employer to make a decision. Some employers provide a description of the terms of a non ERISA 403(B) plan for participants. Some Gust /EGTRRA provisions of the IRC apply to non ERISA 403(B) plans eg., comp limitations of up to 200k. Non ERISA plan does not become an ERISA plan because employer revises plan or providesa description of plan. Plan is subject to ERISA only if is subject to statutory requirements, e.g, non govt or non religious employer who makes employer contributions to plan.

mjb

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