What process will be used in encouraging adoption of the Model Plan?
1. School Boards must implement changes before Jan. 1, 2009 in order to comply with the new IRS regulations. The status quo is not an option. So everyone starts with a clean slate – no old rules or companies. Everything is new. 2. TSA Consulting Group will meet with each school district. It will recommend adoption of the Model Plan and a specific plan document to comply with IRS rules. Since the Model Plan providers have been vetted and determined to be the “Best in Class,” they should be the first providers made available to school district employees. 3. Each district may then consider whether any other 403b companies need to be added to the “approved” list. A district might determine that one or two companies, in addition to the Model Plan companies, should be approved. Before approval, they should be required to meet the same pricing and standards agreed to by the Model Plan companies – and the commitments should be guaranteed by the company and signed by a company officer.
Related Questions
- What is the approximate amount of time that should be allotted for the plan review process? Also - plan review used to take one to two weeks - why does it sometimes take longer now?
- Why is it not OK for evolution to be part of God’s plan? I don’t understand what the problem is: couldn’t God have used the process of evolution as the way that he created the earth?
- Since the adoption of the Long Range Campus Development Plan in 1991, how has the planning process changed?
