This section is for 403b non profit administrators and entities looking for information on the rules changes and regulation compliance issues. These final rules include
developing a plan document, review operations in the 403 b plan, form 5500 requirement and reviewing frozen and current investment relationships.
New 403b Plan Regulations
Some of these new regulations will depend on the type of 403 b involved or plan status. These are generally:
- Non Actively Sponsored Plans
- Actively Sponsored Plan
- Actively Sponsored Hybrid Account
Beginning in 2009, all ERISA 403 plans must file a full form 5500 that recognizes all assets under the plan. Plans with greater than 100 participants must also meet the 5500 audit requirements and regulations. Contact us below if you have questions on this rule.
A plan document must be in place by the effective date of the regulations. This is an important change. If a 403 b already has a plan document, the retirement plan document must be reviewed to ensure the rules under final regulations are addressed.
Review Operations - Plan sponsors must go over their procedures so they align with what is in their new or existing 403 b plan. The regulations also call for oversight.
Non actively Sponsored Plan
Regulations provide that the account manager review the plan. These still may comply without subjecting them to ERISA. Developing a plan document and reviewing service providers for your 403b plan are included in the regulations compliance.
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Plan Owners and administrators - Ask Us With Your Questions
We are experts in the new 403 b rules and changes. You can contact us with any question or service related to any insurance or investment using our form here:
This form is for plan administrators and owners only.
Individuals (not companies) looking for 403 plan help or any other insurance and investment question can use our Investment or Insurance Help form
Or Contact Us Direct with any Question: firstname.lastname@example.org
- The Employee Retirement Income Security Act (ERISA), the primary retirement law in the United States, requires that pension plan participants receive "sufficient information to make informed decisions" to help them properly manage their pension accounts. This simply is not happening, leaving plan participants exposed to unnecessary investment risk. "The 401(k)/403(b) Investment Manual" provides both plan participants and plan sponsors with important information needed by plan participants and plan sponsors to evaluate investment options and to properly protect their financial security. The "Manual" also explains how to calculate the cost effectiveness of a plan's investment options through the use of the Active Management Value Ratio.
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