Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Products June 10, 2009
Great-West Intends to Sponsor 403(b) Prototype
Great-West Retirement Services announced today that it has notified the Internal Revenue Service (IRS) of its intent to sponsor a 403(b) prototype plan under the IRS's proposed 403(b) prototype plan program.
Reported by Rebecca Moore
The IRS program was announced in April (see “IRS Releases Proposed 403(b) Prototype Document Program“) and will allow eligible employers to adopt a pre-approved prototype plan and have assurance that the plan meets the requirements of 403(b) final regulations.
“By sponsoring a 403(b) prototype plan, we will further enhance our service array and our clients’ ability to comply with the new rules from a plan document perspective,” said Chris Cumming, senior vice president.
At year-end 2008, Great-West Retirement Services provided 403(b) plan recordkeeping and administrative services to almost 2,465 organizations nationwide, representing nearly 340,000 participants.
You Might Also Like:
New PEP for Head Start Programs Launches With Oregon-Based Plan Sponsor
The pooled employer plan focused on 403(b) nonprofit educational programs is sponsored by GPS, with investment fiduciary services from the...
Treasury, IRS Issue Part-Time Eligibility Guidelines for ERISA 403(b) Plans
The guidance clarifies exclusions that prevent certain part-time employees from contributing to a plan.
CITs in 403(b)s, Roth Rollovers, Among Priorities for Government Plans
NAGDCA laid out these and other 2024 legislative priorities.