Benefits September 3, 2008

SPARK Answers Questions on Info Sharing Best Practices

September 3, 2008 (PLANSPONSOR.com) - The SPARK Institute has announced the release of a question and answer Web page to address questions it received following the release of its "Best Practices for 403(b) Plans Information Sharing -- Minimum and Comprehensive Data Elements" in July.
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“The SPARK Institute will maintain this site and update it periodically with answers to questions it receives,” said Larry H. Goldbrum, general counsel of The SPARK Institute, in the announcement.

Goldbrum encouraged 403(b) plan sponsors and providers to submit questions to data-elements.questions@sparkinstitute.org , which will be reviewed and answered on the site to the extent possible.

SPARK first issued its Best Practices document in May and updated it in July to reflect a project by the Depository Trust & Clearing Corporation (DTCC) to develop an information sharing service (See SPARK Updates 403(b) Info Sharing Practices to Reflect DTCC Project ). Goldbrum said The SPARK Institute has received over 400 requests for copies of the Data Elements and is preparing a list of companies that have indicated they intend to follow them.

The questions and answers Web page is at www.sparkinstitute.org/403b-q-a.php .

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