The new 403(b)connect solution by se2 is designed to meet the new regulatory compliance requirements that are part of new IRS regulations for 403(b) plans.
The platform allows plan providers, third party administrators (TPAs) and plan sponsors a solution to view participant accounts holistically as an entire plan with multiple providers. Through a configuration change, the platform adjusts to show a singular view with just one provider's business. The platform also includes all customer service, transaction validation, audits, and plan reporting.
“What makes 403(b)connect different is the fact it is independent and does not require the use of a specific plan provider,: says Brent Littleton, CTO at se2. “It's a technology-advanced solution which allows the system to transform itself based on the need of the client. It can accommodate a plan provider struggling with multiple administrative platforms. It can also support TPAs and plan administrators needing the ability to look at a single plan across all plan providers.”