What Should a 403(b) Plan Do?
In 2007, the Internal Revenue Service and the U.S. Department of Labor issued regulatory guidance that vastly altered the documentation and reporting obligations for 403(b) plans. As a result, the 403(b) plan world had to overhaul itself: plan sponsors needed to apply the new regulations, comply with new deadlines, and re-examine single- and multi-vendor relationships. As compliance with many of these new regulations became effective in 2010, the issues that plague 403(b) plan sponsors are now being addressed. Detailed within an article by Michael D. Malfitano, Dana L. Thrasher, Jewell Lim Esposito and David A. Pearson are the most common problems seen thus far. Click here to read the article.