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SPARK Seeks Comments on Form 5500 Guidelines for 403(b)s
<p>The SPARK Institute has released a draft of new guidelines for
ERISA-covered 403(b) plans that, due to new regulations, must now file
a full Form 5500.</p>
Reported by Rebecca Moore
Larry H. Goldbrum, general counsel of The SPARK Institute, said in a news release that the guidelines are designed to assist plans that use multiple vendors with gathering and aggregating data from their vendors to complete the form. According to Goldbrum, the draft guidelines describe certain approaches, expectations, roles, and responsibilities of employers, aggregators, and vendors in working together to complete the 2009 Form 5500.
SPARK is seeking comments on the draft guidelines from the 403(b) community by January 8, 2010. Comments should be sent to Larry Goldbrum at larry@sparkinstitute.org.