With ever-changing laws and significant economic events at every turn, 403(b) plan sponsors are faced with mounting challenges and often find little support. PlanMember steps in to that situation with experience and expertise to help ensure that 403(b) plan sponsors get the most out of their plan.
When the IRS issued new 403(b) regulations in 2009, it was the first major amendment to 403(b) plan administration in nearly 60 years. As a result, investment providers who could not meet the new requirements began exiting the market. For plan participants, this resulted in a significant loss of investment choice. For employers, increased responsibility meant struggling to clarify which investments should remain in the plan. Communicating new information clearly to employees and ensuring the plan met compliance standards became a significant challenge.
As we enter a new era for 403(b) plans, three things matter most to sponsors:
To address these issues, we developed the PlanMember Model Plan. Featuring guaranteed fixed annuities*, managed portfolios and mutual funds from 24 leading fund companies – including some who exited the direct 403(b) market – PlanMember brings back the power of choice.
PlanMember also provides employee education and one-on-one consultation. We can provide sponsors with sample participant communication, Legislative Updates and, if needed, an independent Third Party Administrator recommendation. Also, as many sponsors seek consultants to evaluate their plans, PlanMember can help identify truly independent consultants that understand the complex nuances of 403(b) plans and will act in the best interest of the sponsor.
With PlanMember as your partner, you’ll always have the latest in 403(b) plan requirements and solutions at your fingertips. For more information, contact Chris Guanciale at (800) 874-6910, extension 2329, or send an email to email@example.com.
Withdrawals from annuities, including partial withdrawals and surrenders, may be taxable. If you take a taxable withdrawal before age 59 ½, you may have to pay a 10% penalty to the IRS on the amount of gain in your contract, in addition to your normal income taxes.
The tax-deferral benefit offered by annuities provides no additional tax benefit if they are held in tax-qualified accounts such as IRA, 403(b) or 401(k). Special rules governing annuities issued in connection with a tax-qualified retirement plan restrict the amount that can be contributed to the contract during any year.
The tax-deferral benefit offered by annuities provides no additional tax benefit if they are held in tax-qualified accounts such as IRA, 403(b), 457, or 401(k). Special rules governing annuities issued in connection with a tax-qualified retirement plan restrict the amount that can be contributed to the contract during any year.
Before investing, carefully read the prospectus(es) or summary prospectus(es) which contain information about investment objectives, risks, charges, expenses and other information all of which should be carefully considered. For current prospectus(es) call (800) 874-6910. Investing involves risk. The investment return and principal value will fluctuate and, when redeemed, the investment may be worth more or less than the original purchase price.
Asset allocation cannot guarantee a profit or ensure against loss.
9820 Willow Creek Rd.
San Diego, CA 92131
Securities and advisory services offered through PlanMember Securities Corporation
6187 Carpinteria Ave. • Carpinteria, CA • 93013 • (800) 874-6910
California Insurance License Numbers: • Bruce Smith : 658065 • Marc Lippincott : 0C60570 • Dan Volpe : 620711 • James Smoogen : 68388 • Marc Houle : 638340