403(b) Plan Compliance Success Story


Every institution or plan sponsor offering a 403(b) retirement plan to its employees has a plan document filed with the IRS specifying the plan’s features and rules. Our client, one of the top three 403(b) plan providers in the U.S., provides recordkeeping services and plan document consultative services to its clients, the plan sponsors.


In 2017 the IRS ruled that all 403(b) plans must be restated by March 31, 2020, to meet new document guidelines. As a plan provider, the company was struggling to find 403(b) plan document compliance resources to help assist their clients meet the plan restatement deadline. The plan provider issued an RFP to nine suppliers, seeking a company that could provide the best team of resources within a specified budget.


SynergisticIT was selected over eight other suppliers by working with the client to determine its exact needs. Our proposal—deemed the most creative and responsive—put forth a mix of resources that fit the client’s needs better than those originally requested by the client at a cost under the specified budget.

Using its 20 years of retirement/pension experience and extensive network, SynergisticIT located and qualified plan document experts with the appropriate certifications (QPA, QKA, CPC, CRSP) and experience in drafting plan/summary documents. These resources had experience with systems such as Relius, ASC (McKay Hochman), DGEM, and the DATAIR DC plan administration system. Working with our client to develop a staffing plan, all four resources were on-boarded and working on the project within one month.


With the help of the SynergisticIT team, our client is on pace to meet the March 31, 2020, plan restatement deadline for its 15,000 clients. SynergisticIT has helped centralize the preparation of plan documents and expand the consultative services offered by the plan provider.

If you are a Plan Provider and need assistance with 403(b) Plan Documents, contact us today ask to speak to one of our Managing Partners.