SPARK Seeks Comments on Form 5500 Data Guidelines for 403(b)s
December 16, 2009 (PLANSPONSOR.com) - The SPARK Institute has released a draft of new guidelines for ERISA-covered 403(b) plans that, due to new regulations, must now file a full Form 5500.
Larry H. Goldbrum, General Counsel of The SPARK Institute
said in a news release that the guidelines are designed to assist plans that
use multiple vendors with gathering and aggregating data from their vendors to complete the form. According to Goldbrum, the draft guidelines
describe certain approaches, expectations, roles, and responsibilities of
employers, aggregators, and vendors in working together to complete the 2009
Form 5500.
SPARK is seeking comments on the draft guidelines from
the 403(b) community by January 8, 2010. Comments should be sent to Larry
Goldbrum at larry@sparkinstitute.org.