SPARK Issues RFP Guide for Non-ERISA 403(b)s

The SPARK Institute released a “Non-ERISA-Covered 403(b) Plans Request for Proposal Guide” to help employers conduct vendor searches.

The free guide for sponsors will aid with the vendor search prompted by 403(b) plans regulations issued by the Internal Revenue Service (IRS), according to a release. SPARK said the guide will help simplify the vendor selection process and can be used with both single and multiple vendor searches.

After hearing from SPARK members that 403(b) plan RFP volume has been high and that, in many cases, 403(b) plan sponsors have been using RFP guides that are intended for plans covered by the Employee Retirement Income Security Act (ERISA), Spark decided to develop a comprehensive document designed specifically for the 403(b) market, the company said.

The free guide is available here.