PlanSponsor.com recently posted year end considerations for 403(b) plan sponsors. Some major considerations relate to the plan document and filing of the DOL's Form 8955-SSA.
- Plan Documents: "Experts always advise plan sponsors to check with benefits counsel that is well-versed in 403(b) plans to determine if any items relating to your specific plan should be addressed by year-end."
- Form 8955-SSA: "The 8955-SSA filing generally reports participants who separated from service with a vested benefit, but did not receive a full distribution, and is applicable for 403(b) plans for the very first time for participants who terminated employment beginning in 2008." The Form 8955-SSA has a filing deadline of January 17, 2012.
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Please contact us with questions about setting up and maintaining a 403(b) plan.
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