Understanding the New 403(b) Model Disclosure Form

PlanSponsor.com

One of the key reasons for the 403(b) Transparency Taskforce’s new 403(b) model disclosure form is so vendors can show plan sponsors that they offer more than just products, according to industry experts.

Robert J. Toth, Jr., Esq., Law Office of Robert J. Toth, Jr., told attendees of the National Tax Sheltered Accounts Association’s (NTSAA) 403(b) Advisor Summit plan sponsors will see the services vendors offer on the form. The U.S. Department of Labor (DoL) is requiring vendors to provide fee disclosure to sponsors of Employee Retirement Income Security Act (ERISA)-governed 403(b) plans (see DoL Issues Final Rule on Fee Disclosure); the Taskforce’s Model Disclosure Form is for sponsors of non-ERISA plans.

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Category: 403(b), News