Products July 1, 2008

Principal Offers Guides to 403(b) Compliance

Guides from the Principal Financial Group will provide 403(b) sponsors with step-by-step actions to take over the next several months.
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The guides will help 403(b) sponsors to comply with Internal Revenue Service (IRS) regulations effective January 1, 2009, the company said.

The 403(b) Compliance Guides will be available in four stages to coincide with the suggested timing for taking action, according to a press release. The first guide outlines immediate actions that plan sponsors should begin taking now, including:

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  • setting up a committee,
  • identifying any contracts included in actively sponsored plans,
  • reviewing and documenting the key provision of each contract.

The first guide also provides a Contract Comparison Tool to make it easier for plan sponsors to make their reviews, the company said.

The next guides will be distributed in late July, August, and on a rolling schedule during the fourth quarter of 2008.

The Principal has provided other assistance to 403(b) sponsors including an interactive tool that outlines the action steps needed by each of type of plan design (see Principal Touts New Tool for 403b Plans), and educational materials on the 403(b) regulations (see Principal Offers 403(b) Education Program).

The first guide is available at www.principal.com/403bguides.

Products July 1, 2008

Money Manager Launches Energy Fund

American Trust Investment Advisors launched the no-load American Trust Energy Alternatives Fund.
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A news release said the new offering will focus on companies that will play a role in meeting increased worldwide energy demand as well as those that may benefit from renewable sources of energy generation. The fund will screen nearly 300 energy-related companies in more than 30 countries to evaluate the economic viability and scientific soundness of their products and services.

Carey Callaghan, CIO at American Trust Investment Advisors, and Paul Collins, president, will serve as portfolio managers.

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“Since American Trust’s founding in 1991, we have operated with one main objective: capital appreciation for socially conscious investors. We strive to achieve this objective through the utilization of a disciplined investment process for securities. With that philosophy in mind, we believe that now is the right time to provide a similar socially responsible fund for sustainable alternative energy,” said Collins, in the announcement.

More information is available here.

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