Compliance Monitoring Services
The 1986 Tax Reform Act and the final 403(b) IRS regulations that took effect in 2009 essentially transformed 403(b) plans from primarily employee-controlled, tax-sheltered accounts into fully integrated plans in which the plan sponsor bears responsibility and liability for a broad range of factors. TIAA-CREF offers a range of services to help you proactively monitor and meet your compliance requirements.
- Nondiscrimination testing – Tools, information and resources you need to fulfill nondiscrimination requirements for 403(b) and qualified plans, and a software package to help you complete the 401(m) Matching Test.
- Loan & hardship withdrawal monitoring – If you’re served exclusively by TIAA-CREF, you can monitor compliance with IRS and plan rules through our PlanFocus® website. If you have multiple providers, we offer a web-based monitoring tool that aggregates and updates provider data daily.
- Contribution Limit Monitoring – Leverage the support that works best for your plan — simple reports to help you monitor contributions, or a limits-monitoring service that can notify you when limits are reached and when contributions may be resumed.