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Benefits March 14, 2008
SPARK Calls for Provider/Sponsor Input on 403(b) Issues
March 14, 2008 (PLANSPONSOR.com) - The SPARK
Institute has scheduled a "403(b) Plans Data Sharing
Technology Summit" for Wednesday, March 26, in Hartford,
Connecticut, to discuss the technology issues involved in the
information sharing process that is required under the new
regulations.
Reported by Rebecca Moore
“By bringing together the technology and business people who will be responsible for transmitting and collecting the information, we hope to help establish practices that will make it easier and more cost effective for all parties to comply with the new rules,” said Larry Goldbrum, general counsel of The SPARK Institute, in a news release. Senior level information technology and business representatives from service provider firms and organizations sponsoring 403(b) plans are invited to attend the Summit, but Goldbrum said space is limited and priority will be given to SPARK Institute members for this first meeting.
The SPARK Institute formed a special task force in December to assess a wide range of administrative and recordkeeping issues relating to the new regulations affecting 403(b) plans. The Institute is working to get clarification from regulators about the regulations and to develop practical and cost effective ways to comply with the rules, Goldbrum said.
The Institute’s goal is to develop best practices and model documents that will be widely accepted and available throughout the 403(b) community.
For additional information about the Summit, Goldbrum may be contacted via email at larry@sparkinstitute.org .