We are an agency/institution and have had a written plan with GuideStone for many years. How will this “written plan” requirement affect us?
GuideStone has made a written 403(b) plan document available to its clients for many years and will update the existing plan documents to comply with the final 403(b) regulations. We will provide assistance and information to enable all of our plan sponsors to be informed regarding changes to the basic plan document. However, depending on the type of plan design you have with GuideStone, you may need to document some provisions, such as eligibility, contribution schedules and definition of compensation in your internal rules and procedures if they are not already stated in the plan document.
Related Questions
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