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ft6

New 403b Rules

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I contacted my wife's HR Dept regarding getting Fidelity as a 457 provider as I have the ten employees needed to get Fidelity on board. I was told that due to the new 403b rules and regs they were holding off on adding vendors because they were in the process of selecting a TPA.

 

I thought these new rules applied to the 403b, it sounds like my wifes school district is applying them to their 457 program as well, is this correct ? Or are they misinformed ?

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FT6,

 

Most likely they are looking for a TPA who will oversee both the 403b and 457b and don't want to make any decisions about changing the 457 until they have procured this TPA.

 

I would get involved and make sure that they don't hire a TPA that conditions there service on providing a 457 - or one that sells product(s).

 

ScottyD

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Thanks Scotty I will. Currently AXA is the only 457 provider, however they will add Fidelity provided there are at least 10 participants. Thanks for your help.

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