403(b) Consulting

If a school entity has a need, chances are that PSBA has a service, expert or program to meet that need.

The Pennsylvania School Boards Association Insurance Trust has endorsed Henderson Brothers to provide schools throughout the state with assistance regarding the changes to 403(b) plans. 

The IRS has implemented a series of changes to be in place by January 1, 2010, which will require school districts to assume more responsibility regarding the plans offered to their employees.  The original deadline, Jan. 1, 2009, was pushed back to Jan. 1, 2010, because plan administrators expressed difficulties adopting or amending new written plans and getting information sharing agreements completed by vendors. The IRS has not given this extension so that schools can hold off another year to start this process, but to allow more time for the plan sponsors and administrators to ensure the plan documents are prepared accurately to reflect the changes to each school’s 403(b) plan.

Henderson Brothers offers a group of highly skilled employees who work with group 403(b) plans for over 10 years.  They have a proven action plan that will meet a districts need of ensuring compliance with the new regulations.  Some services they provide are:

  • Customized Plan Document
  • Provide a quality investment menu
  • Prepare the district for a plan level compliance audit
  • Monitor timely on-line payroll deposits
  • Scrutinization of investment, plan operations and plan expenses to help districts reduce fiscal liability.

Schools that have already been operating under the Henderson Brothers single-vendor plan have experienced changes that have been welcomed with open arms.  Here are a few of the positive changes that people are talking about:

  • Individualized advice
  • Communication that is uniform across all employee classes
  • Un-biased advice that benefits the employee and not the advisor
  • Easy web access
  • Timely fund purchasing

Since November of 2007, the Pennsylvania School Boards Association Insurance Trust has endorsed Henderson Brothers to assist schools in their efforts to be compliant with the sweeping IRS changes to 403(b) retirement plans. Recognized as one of “the Most Successful Retirement Plan Advisors” by PlanSponsor Magazine in 2006, 2007, 2008, 2009 and 2011, and the only PA 403(b) Adviser to be named a "Top 100 Retirement Plan Adviser" by PlanSponser magazine in 2010, their vast experience and expertise in the 403(b) world and with IRS regulation is the perfect fit to help you adopt these changes and be compliant.

To receive more information or to receive a proposal, contact Employee Benefits Sales' Tony Wright, director, (717-770-2492, ext. 333); or Sean Sabol, marketing representative (717-506-2450, ext. 4468).


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