Tip of the Day: Get your 403(b) 'untangled'

With all of the health-related regulatory changes coming fast and furiously lately -- FMLA, ADA, COBRA, insert series of letters here -- it could be easy to forget that retirement plans saw some pretty massive regulatory shifts as well. In particular, the final rules applying to 403(b) plans -- which became effective Jan. 1 -- can be just as much of a compliance headache as any health-related acronym.

With that in mind, MassMutual's Retirement Services Division has announced it will host a web seminar, "Untangling Your 403(b)," on Wednesday, March 4 from 3 p.m. to 5 p.m. ET.

Featured speakers include Robert J. Architect, senior tax law specialist for the Internal Revenue Service's Employee Plans Division; M. Palmer Whitney, national managing director for MassMutual's nonprofit market; Deborah Walker, CPA, Deloitte Tax LLP; and David Levine, principal, Groom Law Group.

CE credits are available. For registration details, call 866-444-2601.

Programming note: SPARK to host 403(b) webcast

The SPARK Institute has scheduled a webcast, “403(b) Information Sharing: Common Remitter Issues,” for Friday, Dec. 19 at 12 p.m. EST. The event will include a presentation and Q&A session with experts who developed the common remitter aspects of the organization's 403(b) Plans Information Sharing Best Practices to help plan sponsors comply with IRS regulations that are effective on January 1, 2009 .

The panel will review the best practices for remitting census data and will answer questions regarding the roles and responsibilities of employers, employer representatives and vendors. The Best Practices were developed 2009.

Speakers include Paul Jackson, Vice President-Institutional Services at AIG Retirement, James Racine, Assistant Vice President, Lincoln Financial Group and Ralph Sanna, Director-Strategic Initiatives for TIAA-CREF. For further details, visit https://sparkinstitute.webex.com or call 860-658-5058.

Tip of the Day

Check out the IRS' YouTube presentation on complying with the soon-to-be effective 403(b) regulations. You won't regret it; Jan. 1 will be here before you know it.

News You Can Use: Answers to your burning 403(b) questions

The SPARK Institute has created a Q&A Web site for employers sponsoring 403(b)s to post technical questions about the plans, including compliance with the most recent regulations governing them.

A sample grab: What indicator should be used in the “Type of Account” field (Part II, Section A, see page 11) for a 403(b)(9) retirement income account?

I have no idea. But the folks at SPARK do. Ask away. Submit questions at data-elements.questions@sparkinstitute.org.

Tip of the Day

New 403(b) regulations will take effect on Jan. 1, 2009, requiring organizations to review their current retirement plans, and in many cases, dedicate resources to making changes to meet compliance standards. To aid plan sponsors' preparations, Lincoln Financial has prepared a 403(b) questionnaire to gauge your readiness to comply with the new rules.

Click below for additional EBN coverage on the coming changes to 403(b)s.
- New 403(b) assistance tool may clear up compliance confusion
- New regs impact 403(b)s
- Schoolhouse rocked: Significant changes to 403(b) regulations mean more homework for school systems, nonprofit employers