403(b) and Summary Annual Reports

[Guest Terri Galinato]

My client has a 403(B) plan that has a matching contribution and is therefore subject to ERISA. I am preparing the 5500 for the plan and per the 1999 5500 instructions need only complete Parts I and II (lines 1-5 and 8). What do I do about the SAR? The SAR is a summary of the 5500. The 5500 has very little info. on it. Per the DOL regs, "any portion of the SAR which would require info which is not required to be reported on the 5500 may be omitted on the SAR." Do plan sponsors even do SAR's for 403b's or is there an abbreviated version that is suggested?

[AndyH]

Has anyone ever found an answer to this?

[mbozek]

Doesnt this get back to the basic difference between a 403(B) plan and a qualified plan- because a 403(B) plan has no assets there is limited reporting. The assets are held in an annuity contract (or a mutual fund which is deemed to be an annuity contract) owned by the employee. There is no reason to do a sar for a 403(B) plan for provisons that do not apply.