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Carrier Adds Nonprofit Plan Advice

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TIAA-CREF Life Insurance Company has hired Ascensus to help clients’ 403(b) retirement plans comply with new Internal Revenue Service rules.

The rules, which take effect Jan. 1, 2009, will require 403(b) plans to have a written plan that describes the management of the plan, the responsibilities of the plan investment vendors and other details.

Ascensus, the company assisting TIAA-CREF, New York, with 403(b) compliance support services, is a division of BISYS Group Inc., Roseland, N.J.

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