Products August 26, 2009

The Hartford Offers Data Sharing Capabilities for 403(b)s

August 26, 2009 (PLANSPONSOR.com) - The Hartford Financial Services Group, Inc. has introduced online information sharing reports and automated data sharing capabilities for third-party administrators (TPAs) to help 403(b) sponsors meet new requirements.
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The Hartford’s new data sharing was designed to incorporate the “best practices” established by the Spark Institute for information sharing within the 403(b) industry (see SPARK Issues New 403(b) Info Sharing Best Practices for 2010 ), according to a press release.

In addition to data sharing, plan sponsors that offer The Hartford’s 403(b) program exclusively can obtain assistance with creating written plans and other documents, conducting annual compliance testing, and reporting on Form 5500.  

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The announcement said plan sponsors can also obtain assistance with:

  • Offering participant communication tools to engage eligible employees;
  • Consolidating the number of providers;
  • Managing their new fiduciary responsibilities;
  • Simplifying plan administration and compliance; and
  • Educating employees by providing a variety of tools and resources.

More information is at www.thehartford.com .

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