The landscape of 403(b) plan administration changed dramatically with the release of new Internal Revenue Service (IRS) regulations in 2007. Employers assumed a new and unfamiliar compliance role necessary to maintain the tax-deferred status of their plans. In the time since the new regulations were introduced, the IRS has also increased their focus on 403(b) plan compliance.
In addition to the challenges that plan sponsors face, many employees are impacted by an uncertain and volatile economic climate -- one which continues to put pressure on their ability to manage their day-to-day finances while at the same time plan for a secure financial future.
A carefully and thoughtfully managed retirement plan should withstand the scrutiny of a potential IRS audit. At the same time, a well-designed plan can help improve your employees' financial wellness, productivity and sense of loyalty. Properly implementing and managing your plan, therefore, benefits both you and your employees.
The MetLife ComplyNow Program covers three key focus areas designed to help you meet IRS requirements and allow you to provide a valuable long-term employee benefit to your workforce:
- Proper Plan Implementation and Documentation
- Comprehensive Employee Communications
- Ongoing Plan Operation and Monitoring
At MetLife, we're committed to providing you with the tools and resources that will help you make the important decisions necessary to effectively implement and manage your 403(b) plan. The MetLife ComplyNow Program focuses on helping you build a 403(b) plan that meets your goals and objectives, as well as those of your employees - now and into the future.
To learn more about how MetLife can you help you effectively implement and manage your 403(b) plan, call 877-638-7526 to have a MetLife Resources representative contact you.
This web site is designed as a resource for employees and employers concerning information related to §403(b) programs. The MetLife ComplyNow Program only addresses certain §403(b) compliance responsibilities and does not address all aspects of §403(b) plan compliance. The employer retains responsibility for the compliance of its §403(b) plan under applicable law.
MetLife is prepared to help §403(b) employers understand the impact of the regulations on their plan in compliance with current regulations. The following resources can help you gain a better understanding of the final regulations.
Circular 230 Disclaimer - The information contained in this internet web page (including linked pages) concerning Federal tax issues is not intended to (and cannot) be used by anyone to avoid IRS penalties. This communication is intended to support the sale of insurance, annuity and other financial products and services. You should seek advice based on your particular circumstances from an independent tax advisor.
MetLife and its agents and representatives may not give legal or tax advice. Any discussion of taxes in this communication or related to this communication is for general information purposes only and does not purport to be complete or to cover every situation. Tax law is subject to interpretation and change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You should consult with and rely on your own independent legal and tax advisers regarding your particular set of facts and circumstances.
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MetLife Resources is a division of Metropolitan Life Insurance Company, New York, NY 10166. Securities and investment advisory services are offered through MetLife Securities, Inc. ("MSI") (member FINRA/SIPC) a registered investment advisor, 1095 Avenue of the Americas, New York, NY 10036. MLIC and MSI are MetLife companies.