New SPARK form will help 403(b) service providers comply with DOL regsNews added by Benefits Pro on May 30, 2012

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Joined: September 07, 2011

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By Paula Aven Gladych

The SPARK Institute has created an information form that will help multivendor 403(b) plan service providers comply with the U.S. Department of Labor’s participant disclosure regulations.

The “Investment Provider Information Form for Multivendor 403(b) Plan Participant Disclosure” will help investment providers and record keepers serving 403(b) plans with compliance by helping them locate the appropriate contracts at other companies so their disclosures may be coordinated, according to Larry Goldbrum, general counsel of The SPARK Institute.

The form also includes basic information about the investment provider’s compliance approach and timing, he said.

The Institute already has collected contact information from many of the leading 403(b) plan vendors. The completed information forms are available upon request, for free to plan record keepers and investment providers, including non-SPARK Institute members.

The SPARK Institute represents the interests of a broad based cross section of retirement plan service providers and investment managers, including banks, mutual fund companies, insurance companies, third party administrators, trade clearing firms and benefits consultants.

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