The Principal Provides Resources to Help 403(b) Plan Sponsors Comply with New Regulations |
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Written by U.S. Insurance News
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Thursday, 27 December 2007 |
Sponsors of 403(b) retirement plans have exactly one year to comply with new regulations governing these plans.
Sponsors of 403(b) retirement plans have exactly one year to comply with new regulations governing these plans.
The Principal Financial Group® wants to help these plan sponsors—and the financial professionals they work with—and is offering several new resources to do so.
“403(b) plan sponsors should begin developing strategies to comply with the new regulations now,” urged Paul Fromm, second vice president, Retirement and Investor Services for The Principal. “These regulations can be daunting, but with an early start and help from The Principal, plan sponsors will be in a good position. We’ve created tools that can offer a smoother transition.”
The Principal, which provides services to 4,885 non-profit plans, is offering two white papers and a guide that summarize the regulations and provide analysis of their implications:
- “A 403(b) Plan Sponsor’s Guide to the New Final 403(b) Regulations” was written by David Powell, a 403(b) expert from of the Groom Law Group, the largest employee benefits law firm in the nation. The paper provides in-depth analysis of the new regulations, which take effect January 2009.
- “Practical Implications of the 403(b) Regulations,” by The Principal’s Aaron Friedman, assesses the advantages and disadvantages of various options facing 501(c)(3) organizations for bringing their plans into compliance with the new rules.
- “The 403(b) Guide” is an easy-to-follow summary of key provisions before and after the new regulations.
These resources and others are available online at the Principal Research Center.
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