I can tell the flu season is still raging, judging by all the empty desks in our office. We all know one of the best ways to stay healthy is good old-fashioned hand washing with soap and water. A similar type of thorough clean-up work has been going on with 403(b) plans to keep them healthy.
First, we saw significant activity around plan design review and changes when the final 403(b) regulations came out in 2007. By the time the regulations were effective in 2009, a significant number of 403(b) plans had reviewed their ERISA status, changed plan design features, reviewed – and in many cases eliminated – various investment choices and service provider choices and modified administrative procedures to take into account the requirements of the regulations.
