Determining the Status of Your 403(b) Plan
To determine the status of your
Model 1 - Non-Actively Sponsored 403(b)
- We currently do not have a plan document.
- We do not file Form 5500.
- Participants are allowed to contribute to the service provider’s product of their choice. NOTE: The list may be limited by payroll slots.
- Participants have been allowed to transfer the balance of the 403(b) account to the service provider’s product of their choice.
Consider your next steps toward complying with the
Model 2 - Actively Sponsored 403(b)
- We currently have a plan document.
- We have been filing Form 5500. NOTE: Governmental and non-electing church plans are exempt from Form 5500 filing requirements.
- Employees are allowed to choose only among the investment options chosen by the plan sponsor with a single service provider, AND employees are not allowed to transfer retirement funds outside of the investment options offered while actively employed.
- There have not been any plan contributions or transfers of account balances outside of the investment options listed above.
- There are no active or inactive participants with balances in service providers’ products outside of the investment options listed above.
Consider your next steps toward complying with the
Model 3 - Actively Sponsored Hybrid 403(b)
- My arrangement doesn’t clearly fall into Model 1 or Model 2. Model 3 includes plans where there are active participants or former participants with balances in providers’ products outside of the current provider’s investment options.
Consider your next steps toward complying with the
