With the Jan. 1, 2009 deadline for implementation of new IRS regulations for 403(b) plans looming, a number of product providers are choosing to exit the market given the cost and complexity associated with compliance. Now,  se², a provider of business technology and processing solutions for the financial services and retirement planning sector, is introducing 403(b)connectSM, a fully automated 403(b) solution to help product providers comply with new IRS regulations..

403(b)connectSM gives mutual fund, fixed, and variable annuity product providers the ability to identify, connect and aggregate their 403(b) accounts, both mutual fund and annuity contracts, to meet all regulatory compliance requirements of the new 403(b) regulations and the ability to interface with plan sponsors and Third Party Administrators.  403(b)connectSM includes customer service interfaces, transaction validation, audits and plan reporting, without the need for costly upgrades to legacy administrative platforms or time consuming conversions.

"403(b)connectSM is the answer many providers have been looking for,” said Eric Rea, president of se². ”It’s a low-cost solution, available immediately and very quick to implement."