Even among 403(b) plans not governed by ERISA, PLANSPONSOR DC Survey results show improvement in certain governance practices.
Tag: non-ERISA 403(b) plans
“The school has been deemed non-compliant with its contractual obligations regarding financial management as identified in the charter operating agreement,” a letter sent to school officials says.
The Wagner Law Group says non-ERISA 403(b) plans may satisfy the definition of “retail customer” in the Securities and Exchange Commission’s (SEC)’s Regulation: Best Interest section of its proposal.
“I read in an Ask the Experts column that the Employee Retirement Income Security Act (ERISA) requires plan sponsors to retain plan documentation for at least six years, and, in many cases, much longer than that.
“I work for a third-party administrator (TPA) firm that has a new private tax-exempt client which started a 403(b) plan last year intending it to be not governed by the Employee Retirement Income Security Act (non-ERISA).