Congratulations! You’ve made the right decision to move forward with our Compliance Essential program. Your transition to the new 403(b) regulations is nearly complete. Below you’ll find final information on transitioning your plan in a well-organized and user friendly manner. Use this Compliance Essential kit to organize and hold all your critical documents in one place for ongoing reference.
There are a number of tasks you’ll want to consider completing as you work toward complying with the new 403(b) regulations. Use the checklist to keep track of completed tasks. The checklist and other materials on this web site can help guide you in the process.
For more information, click on the links below:
The following tasks must be completed before your plan can be implemented. The paperwork must be properly completed, signed and returned by December 31, 2008. You will need to permanently retain copies of these important records in the event of an audit.
If you need assistance or have any questions, contact your information source on 403(b) regulations at 1-877-403(b)REG (2734).
STEP 1: Service Provider Agreements
Click here to download necessary documents to complete this step. |
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Complete Qualified Service Provider Agreements for all active vendors. |
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Complete Information Sharing Agreement
- Required for exchanges to vendors outside the plan
- Optional for vendors inside the plan
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STEP 2: Plan Document Adoption Agreement
Click here to download necessary documents to complete this step. |
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Sign Plan Document Adoption agreement. |
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Update your approved vendor list. |
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Print copy of signed agreement and document and include in compliance file kit for future reference. |
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Provide a copy of the document and approved vendor list to your providers of choice. |
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STEP 3: Plan Administration Items
Click here to download necessary documents to complete this step. |
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Finalize operational issues. Collect and store salary reduction agreements for future reference. |
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Communicate universal availability policy to all eligible employees, use building mailbox and payroll stuffers, posters and e-mail blasts. |
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Review loan and hardship administration with each vendor on an ongoing basis. |
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Complete self-audit checklist and review compliance manual periodically. |
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Document and keep all provider and participant communications for future reference. |
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