TIAA-CREF Helps 403(b) Sponsors Understand Their Fiduciary Roles

April 19, 2010 (PLANSPONSOR.com) - A new whitepaper by TIAA-CREF highlights steps 403(b) plan sponsors can take to uphold their fiduciary obligations and help plan participants maximize their retirement savings.

The whitepaper, “Minimizing Risk and Maximizing Outcomes,” provides guidance to help plan sponsors understand their role as a fiduciary, reviews strategies to minimize fiduciary and compliance risk, and details seven best practices that can serve to improve performance in areas such as plan design, governance, and oversight.  

“Research has shown that more than a year after the final 403(b) regulations went into effect, nearly half of plan sponsors have difficulty understanding them,” said Teresa Hassara, Senior Managing Director, Institutional Client Services at TIAA-CREF, in a press release.  “This white paper makes it easier for plan sponsors to address the challenges of an evolving regulatory environment.  It’s the latest addition to a suite of educational resources, services and tools TIAA-CREF has developed to help plan sponsors fulfill their fiduciary and compliance obligations, and meet the lifetime financial needs of their employees and retired participants.”  

The white paper is here.

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