SPARK Answers Questions about 403(b) Best Practices

“The SPARK Institute will maintain this site and update it periodically with answers to questions it receives,” said Larry H. Goldbrum, general counsel of The SPARK Institute, in a press release.

Goldbrum encouraged 403(b) plan sponsors and providers to submit questions to data-elements.questions@sparkinstitute.org, which will be reviewed and answered on the site to the extent possible.

SPARK first issued its Best Practices document in May and updated it in July to reflect a project by the Depository Trust & Clearing Corporation (DTCC) to develop an information sharing service (see SPARK Updates 403(b) Info Sharing Practices to Reflect DTCC Project). Goldbrum said The SPARK Institute has received more than 400 requests for copies of the Data Elements and is preparing a list of companies that have indicated they intend to follow them.

The Web page is at www.sparkinstitute.org/403b-q-a.php.