News and Information

For information on the State Budget Crisis, Click here.

For information presented by Bill Somerville at recent Thrive Meetings, Click here.

403(b) Regulations Changing
The 403(b) landscape has changed as a result of new IRS regulations. Effective January 1, 2009, all 403(b) retirement plans for non-profit organizations are going to have to shoulder responsibility for the plan design, transfers, loans, and new administrative requirements. Fiduciary responsibility will now rest on your organization, instead of your individual employee participant. Failure to satisfy these new rules can put your plan money at risk and put the plan out of qualification for tax deferred status. There are solutions to become familiar with that can make your transition much easier and cost effective. As new plans can take up to 8 weeks to implement, it is important to figure this into your organizational timeline.