Benefits May 2, 2008

NAGDCA Publishes 403(b) Q&A Document

May 2, 2008 (PLANSPONSOR.Com) - A trade group representing public-sector defined contribution plans has released a Q&A document with information about the latest government regulations for 403(b) programs.
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The topics focused on in theNational Association of Government Defined Contribution Administrators (NAGDCA) document include:

  • Plan governance and fiduciary responsibilities,
  • Prior vendor “orphaned” or “grandfathered” contracts,
  • Contracts ceasing to receive contributions on or before December 31, 2004,
  • Contracts ceasing to receive contributions in 2005 – 2008,
  • Contracts held for former employees or beneficiaries,
  • Service provider consolidation,
  • Delegation of compliance responsibilities,
  • 403(b) limit monitoring,
  • Administrative functions,
  • Plan design issues, and
  • Plan termination.

The Lexington, Kentucky-based group represents Deferred Compensation and Defined Contribution plans at the state and local government level as well as financial services providers.

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The NAGDCA document is available here . Additional 403(b) information is available through the PLANSPONSOR 403(b) portal here .

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