Benefits Notes |

Employee benefits are an important part of every employees' total compensation package. The continuously evolving landscape in the areas of health care reform, retirement plan design, and executive compensation makes it difficult for employee benefits professionals to keep up with relevant developments. The employee benefits attorneys at Stinson Leonard Street provide human resources professionals, plan fiduciaries, actuaries, accountants, and others in the industry with practical and cost-effective assistance as they navigate through the complex laws, regulations and guidance that govern employee benefits plans. This blog highlights key developments in the employee benefits field and items of interest to our clients. Our Bloggers →

Benefits Notes Post

Current Challenges and Best Practices for ERISA Compliance for 403(b) Plan Sponsors

By Angela Bohmann | March 22, 2012 in Retirement Plans

The Department of Labor recently posted the report of the ERISA Advisory Council on Current Challenges and Best Practices for ERISA Compliance for 403(b) Plan Sponsors. The report contains a good side by side comparison of 403(b) and 401(k) plans that may be of interest to plan sponsors eligible for both types of plans and trying to decide which to adopt. Unfortunately, the report is more “Challenges” than “Best Practices.” Most of the best practices would require additional guidance from either the Internal Revenue Service or Department of Labor before plan sponsors could adopt them. Perhaps the report will spur the agencies to act.