Excerpt: The DOL continues what is actually a pretty extraordinary effort with regard to 403(b) plans. It had struggled early with the new 403(b) changes brought on by the IRS rule changes. It had not really taken a good look at these plans since 1978 when it issued its 'safe harbor' which exempted many 403(b) plans from Title 1 coverage, and I do not recall ever actually dealing with a DOL investigation of a 403(b) plan prior to this year. DOL staff has kept talking to the accounting, legal and consulting professions, as well as employers and vendors, as they try to sort out some of the unusual difficulties presented by 403(b) plans. Indeed, the biggest challenge in this market is not related to the tax code, it is in addressing the mystery of how to define and manage fiduciary issues arising from 403(b) plans funded with individually owned annuity contracts. The DOL is about to take the next step, and is considering [issuing] a 403(b) 'Frequently Asked Questions' as they have done twice for the Schedule C. The FAQ is to address critical year end 403(b) issues related to reporting and Title 1 status.