With School Back in Session - Time to review your 403B Package
Lee Rosenberg, CFP | August 31st, 2009Important First Steps for School Districts
- Review current policies, contracts and management procedures for 403(b)s and other benefit programs
- Develop a list of all current benefit providers that details benefits, offered, fees charged and services provided
- Review compliance practices as they relate to the new 403(b) requirements
- Develop a benefit RFP or engage in provider contract negotiations. The RFP or contract negotiations should include specifications for fees, services provided to both employers and employees, compliance requirements, oversight activities and fund performance reporting
- Generate a strategic plan for benefits that includes goals and objectives as well as a plan to monitor compliance and performance
- Due to the complexities of the new 403(b) regulations, seek the guidance of experienced professionals who has knowledge of benefits programs, IRS regulations and tax laws.
We at the New York State Financial Planning Network have been assisting Superintendants and employees of New York school districts with their investment and retirement decisions for over thirty years. As such, we offer expert advice and consulting regarding both old and new investment products that serve educational professionals. We are also familiar with the ins and outs of investment planning, retirement planning and helping people realize their financial dreams in spite of these uncertain economic times. We have affiliate offices throughout the state and look forward to answering your questions and helping you meet your investment goals. You can learn more about our services by visiting our website at www.nysfinancialplanningnetwork.com. Or check your NYSCOSS Council Directory. We are a Diamond sponsor of the Council.
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Tags: 403(b), lee rosenberg, lee rosenberg cfp, new york state financial planning network, retirement planning
About the Author: Lee Rosenberg is the Co-founder of ARS Financial Services, Inc. As a Certified Financial Planner with more than 34 years of solid financial expertise. Lee is a registered representative of Cadaret, Grant & Co., Inc. He was also named one of the top 25 Independent Financial Advisers in the US by Rep magazine.
