Compliance November 12, 2008

NAGDCA Posts IRS 403(b) Series

A public fund trade group has posted a series of video files on the government’s 403(b) regulations in light of the fast approaching January 1 deadline.
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The National Association of Government Defined Contribution Administrators (NAGDCA) posted the files on YouTube, the popular Internet video file sharing site.

The files include segments of a comprehensive interview with Robert J. (Bob) Architect, Senior Tax Law Specialist, Employee Plans, Internal Revenue Service, a frequent speaker at recent 403(b) conferences.

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When Architect appeared at a recent Boston conference, he told attendees that they do not necessarily have to have information sharing agreements in place by the January 1, 2009 (see IRS’ Architect Dispels Myths about 403(b) Regs).

Architect helped craft the comprehensive regulations covering sweeping changes in the 403(b) space dealing with issues such as the need for a formal plan document and how plan sponsors will be mandated to keep careful track of plan assets and the activities of fund providers.


Architect is also scheduled to appear in an Internal Revenue Service Webinar December 4 (see IRS 403(b) Expert Scheduled for Upcoming Webinar).

Products November 12, 2008

Securian Offers 401(k) Participants an Annual Checkup

Participants enrolled in Securian Retirement 401(k) plans can track their savings progress on their plan statements.
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In addition to showing the retirement savings gap (if there is one), the Securian Annual 401(k) Checkup also calculates the gap in monthly retirement income: It compares the estimated monthly income needed after retirement with the estimated monthly income generated by current savings at a hypothetical rate of return.

In addition, the Annual Checkup offers tips for building retirement plan savings (including postponing retirement) and directs employees to a calculator where they can further refine their retirement savings goals.

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The Securian Annual 401(k) Checkup is a value-added feature available on all full-service Securian Retirement plans at no additional cost, according to the firm.

Securian Retirement, a unit of Securian Financial Group, Inc., serves more than 3,200 retirement plans.

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