An insurer says it hopes to fill a void in the 403(b) retirement plan market.
Symetra Financial Corp., Bellevue, Wash., has started a Savings for Schools 403(b) plan marketing initiative.
The program, which will serve retirement savings plans sponsored by K-12 schools, will include ramped-up product development efforts, expanded distribution networks, and creation of a team of 403(b) experts that can offer school districts plan design and compliance advice.
Symetra also is posting information for 403(b) plan sponsors at http://www.symetra/savingsforschools.com
The program is needed partly because the government has imposed tough new rules on 403(b) plans without giving school districts much advice on how to apply the rules, and partly because some retirement plan providers are walking away from the 403(b) plan market, Symetra says.