SPARK Seeks Comments on 403(b) Information Sharing Agreement

According to a SPARK press release, the sample ISA provides:

• A set of sample contractual provisions, with [bracketed alternative or optional text] and italicized user notes, and
• A list of the data elements and information which SPARK Institute members have collectively agreed upon as minimally necessary for issuers and vendors to exchange.

Last week the Institute release an exposure draft, “Best Practices for 403(b) Plans Information Sharing — Minimum and Comprehensive Data Elements,” summarizing what information will be shared among affected parties (See SPARK Issues Proposed Best Practices for 403(b) Info Sharing).

Both documents are available for review at http://www.sparkinstitute.org/comments-and-materials.php. The Institute is asking that public comment be provided to SPARK general counsel Larry Goldbrum at larry@sparkinstitute.org by April 18 because it is hoping to finalize industry standards by April 30.