Employer Roles and Responsibilities
Employer responsibility is not new. Employers already have responsibility for compliance including
ensuring that 403(b) contributions are made to service providers offering contracts that meet 403(b)
requirements. New regulations require additional items for which employer are responsible.
| • | Employers are responsible for compliance |
| - Loans | |
| - Hardship withdrawals | |
| - Limitation on transfers/exchanges | |
| - Restrictions on certain investment products | |
| - Universal availability | |
| - Timely remittance of contributions | |
| - Required Minimum Distributions | |
| • | Employers are still responsible for violations |
| • | Employers are always responsible for compliance with Universal Availability |