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Department of Labor's Employee Benefits Security Administration.

The Department of Labor's Employee Benefits Security Administration (EBSA) recently announced a new assistance effort for 403(b) pension plans subject to Title I of the Employee Retirement Income Security Act (ERISA). EBSA points out that 403(b) plan administrators now must file basic financial and other compliance information annually with the government on a Form 5500 or Form 5500-SF. Large plans must include a report of an independent qualified public accountant with their Form 5500. All Form 5500s beginning with the 2009 plan year must be filed electronically using the department's new EFAST2 system. EBSA just issued a new Field Assistance Bulletin (FAB) 2010-01 developed to answer many frequently asked questions from the 403(b) community on the new Form 5500 reporting requirements. The department also published a brochure entitled Getting Ready for Changes in Filing Your Plan's Annual Return/Report Form 5500. All of these materials are available on a newly created EBSA Web site at www.dol.gov/ebsa/403b.html that focuses on Code 403(b) plan issues, EBSA reports.

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Title Annotation:NEWS & PRODUCTS
Publication:Investment Advisor
Date:Apr 1, 2010
Words:174
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