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At T. Rowe Price, we are committed to helping you manage your 403(b) plan by offering your employees a way to save for retirement while you save time and money.

Our 403(b) program includes:

  • Comprehensive investment choices. T. Rowe Price offers over 90 T. Rowe Price no-load stock, bond, or money market mutual funds to help build a diversified retirement portfolio.
  • The Plan Sponsor Web site. PSW is a free, secure Web site that is designed to support some of your plan administration tasks, including satisfying information sharing requirements, submitting plan contributions, and obtaining plan information.
    You will also:
    • View and print plan reports on demand
    • Enable faster contributions via the Automated Clearing House (ACH) network
    • Establish and maintain participant accounts online
  • Quality Service. Our knowledgeable client services representatives are available to answer questions you or your employees may have.
  • Competitive investment performance. We've spent years developing a proven strategy that helps us find attractive opportunities for clients while we seek to reduce risk.
Key 403(b) Plan Sponsor Responsibilities
How Do Employees Sign Up?
  1. You can request 403(b) employee kits from T. Rowe Price to distribute to your employees, or employees may call T. Rowe Price directly at 1-800-492-7670 to order a 403(b) kit.
  2. Each employee completes the Participant Account form, keeps a copy for his or her files, and provides the original to you. You use the application to set up the account on Plan Sponsor Web.
How Will T. Rowe Price Share Participant Information With Each Plan Sponsor?

To help you fulfill your information sharing obligations, T. Rowe Price makes Plan Sponsor Web available at no cost to you. This information-sharing tool will help plan sponsors satisfy requirements for sharing participant information between your organization and T. Rowe Price.

How Do I Transmit the Participants' Contribution?
  1. Your payroll department should withhold each participant's salary in accordance with the salary reduction agreement in the Participant Account form (or you can use an employer-designed form).
  2. Use the Plan Sponsor Web site to submit contributions. Contributions can be funded by check or electronically by Automated Clearing House. In general, contributions must be submitted as soon as they can be segregated from the business assets, but no later than 15 days following the month they were deducted.
  3. A confirmation of plan contributions will be available on the Plan Sponsor Web site after each contribution has been processed.
How Are Participant Changes Processed?
  1. A participant can change his or her address, investment choices, and beneficiary information by submitting an updated Participant Account form to you, or by contacting a T. Rowe Price Client Services Representative at 1-800-492-7670.
  2. Changes to salary deferral amounts are communicated directly to you using the Participant Account form (or your own salary reduction election form).
  3. You can use Plan Sponsor Web to update address information, investment choices, and beneficiary information.
  4. For investment allocation changes, participants can call us at 1-800-492-7670 or access their own account via rps.troweprice.com.
What Costs Are Involved With a 403(b) Account?

There is no cost to set up the 403(b) plan. A $20 account service fee is charged for each T. Rowe Price mutual fund with a balance below $10,000 in an employee's 403(b) account. The $20 account service fee will be waived for the following circumstances: Subscribe to electronic delivery of statements and confirmations*; maintain an individual combined balance of $50,000 or more for all T. Rowe Price accounts (including mutual funds, Brokerage, Variable Annuity, and Small Business Retirement Plans); or qualify for T. Rowe Price Select Client Services based on higher asset levels of $100,000 or more. If the Participant Account is closed during the year, a $20 closeout fee will be deducted automatically from the proceeds of the total redemption. However, the closeout fee is waived when an account service fee was previously assessed to the participant for that year or when the proceeds are being used for a rollover, transfer or conversion to a T. Rowe Price retirement plan account or T. Rowe Price IRA account.

*Participants can subscribe to paperless delivery via the T. Rowe Price website once their account is established.
How Are Plan Distributions Processed?

Participants can call our toll-free number to request distribution paperwork. For ERISA plans, the employer must approve any distributions by signing the appropriate distribution form. Plan Sponsors must ensure that participant employment status is kept up to date on Plan Sponsor Web in order for T. Rowe Price to process distribution requests.

Who Is Responsible for Keeping the 403(b) Plan Updated for Changes in the Law?

T. Rowe Price will update the 403(b)(7) Custodial Account Agreement as necessary. You are responsible for making sure the employer plan document is in compliance with any changes in the requirements that govern 403(b) arrangements.

How Do Plan Sponsors Provide Their Approved Vendor List?
  • Plan sponsors must provide T. Rowe Price a list of the annuity contract and/or custodial account providers that are: (a) receiving contributions as part of the 403(b) plan or (b) have an Information and Services Agreement (ISA) with the plan. Plan sponsors must also promptly notify T. Rowe Price if there are any changes to their approved vendor information by completing the T. Rowe Price ISA.
  • Even though plan sponsors are required to list their approved vendors in their plan document, please do not send your entire plan document to T. Rowe Price when providing your vendor information. T. Rowe Price requests approved vendor information on the T. Rowe Price ISA. Be sure to include your approved vendor information on the T. Rowe Price ISA when you return it to T. Rowe Price.
When Will My Plan's Participants Be Allowed to Exchange Assets Between Approved Vendors?

When we receive your completed T. Rowe Price ISA, we will be able to exchange assets to and from your plan's approved vendors.

How do our employees stay informed?

We make it easy for your employees to stay current with their accounts by providing:

  • Account statements. Plan participants receive quarterly account statements so they can track their accounts.
  • Updated fund performance. Our fund prices are updated daily on our website and are listed in the financial section of most newspapers.
Copyright 2014, T. Rowe Price Investment Services, Inc., Distributor. All rights reserved.