According to a press release, in addition to investment policy and monitoring services, TIAA-CREF has developed sample plan documents and has launched a new financial reporting package. The company also provides communication and training for administrators, a compliance guide, and other services to help ensure 403(b) plan compliance and fiduciary responsibilities are met.
Last year TIAA-CREF introduced Compliance Coordinator, a Web-based tool designed to help plan sponsors with multiple investment providers ensure that all loans and hardship withdrawals are in compliance with applicable IRS regulations (see TIAA-CREF Offers Help with 403(b) Plan Transaction Monitoring ). The press release said the firm has submitted an application for a method patent for this service to the U.S. Patent and Trademark Office.
More information about TIAA-CREF’s suite of services is at http://www.tiaa-cref.org/administrators/index.html .
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