New Forms Available

11/19/08 – Updated forms have been posted on the website – the Hardship Authorization Form and the Salary Reduction Agreement. The updated version of the Hardship Authorization Form now includes the following provision, “Once this form has been approved by NBS, an automatic administrative cancellation of your salary reduction agreement will be executed, if applicable.” The new version of the Salary Reduction Agreement has been designed to be more user friendly.

Transaction Authorization Procedures

12/21/07 - In accordance with the new IRS 403(b) regulations, procedures for authorizing participant transactions (distributions, rollovers, hardship withdrawals, loans, and exchanges) have now been established.  The DOE must share certain information with investment providers and coordinate with investment providers for certain transactions.  As a result, an Authorization Form (see Forms page) must be completed in addition to the investment provider's own paperwork to authorize the transaction.  The requested transaction will be reviewed by NBS for conformity with plan provisions and the Internal Revenue Code.  If the transaction is approved the provider will be notified directly by NBS.  If the transaction is not approved the participant will receive notice by mail.  Please note that each provider will still likely maintain its own paperwork requirements in addition to the Authorization Form. Click here for additional information information on this process and other general information about the new IRS 403(b) Regulations.

List of Transfer Eligible Investment Providers Now Available

12/21/07 - The Investment Options page now identifies which investment providers of the Program are transfer eligible.  The list will be periodically updated to reflect investment providers that become eligible.

New Provider Agreement Available

12/12/07 - The third party administrator of the DOE TSA Program, National Benefit Services (NBS), has begun disseminating the 403(b) Provider / Information Sharing Agreement to investment providers.  Providers that wish to become transfer eligible and that wish to remain part of the DOE TSA Program after December 31, 2008 must enter into the agreement which is available on the Information for Vendors page.

2008 MAC Now Available

11/24/07 - The 2008 Maximum Allowable Contribution Worksheet (MAC) is now available on the Forms page.

DOE Memo to All Participants Regarding Transfers

9/14/07 - Portions of the IRS' new 403(b) regulations go into effect on September 24, 2007.  Program participants should be aware that transfers between investment providers after September 24, 2007 may carry certain risks.  Click here for more information regarding the new regulations and how they affect transfers.  A memo has been issued by the DOE and distributed to Program participants to provide information.