Friday, July 15, 2011

403B 5500 Plan Document

5500

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.

Plan Document

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.

We are the premier training company for the financial industry. Contact us with any 403b administrator question.

403b Regulations

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