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Products July 22, 2008
Prudential Issues 403(b) Guide
Prudential Retirement has issued a new Planning and Resource Guide to help its 403(b) clients manage plan transitions in the new regulatory environment.
Reported by Rebecca Moore
According to a press release, the guide includes an overview of Prudential Retirement’s service solutions for plan document and information sharing requirements, as well as suggestions about how to prepare for the new general administrative responsibilities plan sponsors will face under the new regulations.
To address the most onerous requirement of data sharing among multiple-provider plans, Prudential said it will utilize the data standards developed by the 403(b) Task Force of the Society of Professional Asset-Managers and Record Keepers (See SPARK Updates 403(b) Info Sharing Practices to Reflect DTCC Project).
Plan administrators and sponsors who wish to learn more about the tools and solutions available should contact their Prudential Retirement service representative. Detailed explanations of specific provisions of the final regulations are available through Prudential Retirement Plan Analyst and Compliance Bulletins at http://www.prudential.com/pensionanalyst.