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NAGDCA Publishes 403(b) Q&A Document
A trade group representing public-sector defined contribution plans has released a Q&A document with information about the latest government regulations for 403(b) programs.
Reported by Fred Schneyer
The topics focused on in the National Association of Government Defined Contribution Administrators (NAGDCA) document include:
- Plan governance and fiduciary responsibilities,
- Prior vendor “orphaned” or “grandfathered” contracts,
- Contracts ceasing to receive contributions on or before December 31, 2004,
- Contracts ceasing to receive contributions in 2005 – 2008,
- Contracts held for former employees or beneficiaries,
- Service provider consolidation,
- Delegation of compliance responsibilities,
- 403(b) limit monitoring,
- Administrative functions,
- Plan design issues, and
- Plan termination.
The Lexington, Kentucky-based group represents deferred compensation and defined contribution plans at the state and local government level as well as financial services providers.
The NAGDCA document is available here.