An ING news release said the new offering was designed to help the non-profit sponsors more easily meet new Internal Revenue Service (IRS) requirements that 403(b) plans have a formal document in place setting out their operational details by January 1, 2009 (See 403(b) Summit: Plan Document Preparation not an Easy Task ).
class=”NormalWeb45″> The company said that by adopting an ING 403 (b) plan document, sponsors will get automatic updates due to future regulatory changes.
class=”NormalWeb45″> In March, ING offered plan documents to public school districts seeking a better understanding of the new regulatory environment (See ING Releases 403(b) Plan Documents ). ING also provided plan sponsors with a toolkit to help them meet the new IRS information sharing requirements, which took effect last fall.
class=”NormalWeb45″> More information is available at www.ing.com/us/403bregs .