To assist financial professionals in understanding new IRS requirements for nonprofit plan sponsors, the Retirement Services division of American United Life Insurance Company® (AUL) will host a series of Webinars to highlight the results of the AUL Retirement Services-commissioned study entitled The New 403(b) Frontier, Wednesday April 7 and Thursday, April 22 at 9 and 11 a.m.
During the Webinar, presentations will be given by AUL Vice President of National Nonprofit Sales Kevin Kidwell and Regional Vice President of Nonprofit Sales Jim Daniel on the survey findings. Additionally, they will discuss how financial professionals can use the survey findings with clients and prospects.
AUL Retirement Services, along with Indianapolis, Ind.- based Jackson Group, conducted a first-of-its -kind survey where 700 nonprofit plan sponsors from the micro and small market segments in Calif., Col., Fla., Ill., Mass., Tenn. and Washington were asked broad-based questions about their understanding of fiduciary responsibilities, 403(b) regulations and the Pension Protection Act. Contrary to historical research, the respondents expressed confidence in their understanding of these issues. However, after being asked more detailed questions, a much lower percentage of respondents expressed the same level of understanding, leading to the conclusion that plan sponsors are behind in becoming compliant with new 403(b) regulations.
The New 403(b) Frontier builds upon previously released programs for advisors wishing to break into the 403(b) market, including: Investment Advisor Services, the company's exclusive business-building service that expands distribution channels to work with Registered Investment Advisors (RIAs) and Investment Advisor Representatives (IARs) by offering Web-based investment modeling tools and AUL Retirement Services' TPA Distribution Strategy.