403(b) Orphan Solutions
Presents: (b)lieve™ A Place for Displaced 403(b) Accounts The final 403(b) regulations created massive changes to all constituents in the 403(b) market. TPA’s, Investment Providers, and employers have worked to implement the new requirements in a short 17 months. Now, working off the plan document extension, the processes, procedures and remaining players continue to be defined and trends are emerging. An unintended consequence however, is the impact to accounts not associated with the newly formed structure. Grandfathers, orphans, deselected – whatever category an account falls in, one thing is clear; there is no such thing as “Business As Usual” in the 403(b) market, paralyzing “orphans” and investment providers alike. 403(b) Strategies & Solutions offers a temporary home for these loosely-defined accounts. Using a simplified version of what will become the standard 403(b) plan and data feeds in SPARK format, our services include account information monitoring, distribution request determinations, vendor or plan sponsor communications where appropriate, contribution restriction monitoring and customized reports. Depending on the investment company goals, we can assist with developing and implementing a strategy to get the accounts reunited with an active plan or provide consumer education on rollover opportunities. The end goal for all accounts is to be associated with a plan type that has definition to create the opportunity for growth.
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