Products October 20, 2008

Security Benefit Offers 403(b) Compliance Deadline Guarantee

October 20, 2008 (PLANSPONSOR.com) - Security Benefit will pledge compliance with 403(b) regulations by the January 1, 2009, deadline to any school whose contract is received by November 14, 2008, through its 403(b) PlanSolutions Quick Start.
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Security Benefit announced that Quick Start is designed for schools and districts that are not prepared for the new regulations, and if a school or district using the program is not prepared by the deadline, Security Benefit will return the implementation fees.

403(b) PlanSolutions provides 403(b) plan sponsors with the tools necessary to comply with the regulations (See New Program Aids in 403(b) Reg Compliance ), including:

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  • Installation services that provide a fully compliant 403(b) plan document and supporting notices to employees;
  • Common remitter services to process and remit contributions to approved 403(b) providers; and
  • Proactive compliance monitoring of all approved providers that includes transfers, contributions, catch-up limits, hardships, loans, and distribution monitoring.

More information is at www.securitybenefit.com .

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