Case study: 403(b) Compliance assistance and plan design consulting for a healthcare institution By Suzanne D. Smith, Paul R. Bonsee | 21 September 2015 The challenge A large healthcare institution maintained a 403(b) ERISA plan for approximately 5,000 participants using both a large mutual fund company and an insurance company as record-keepers. A well-known accounting firm had been acting as the plan auditor for a number of years. The plan provided for an employer non-elective (profit sharing) contribution that was a very complex formula, which was integrated with Social Security and, at the same time, a longevity formula. The longevity contribution was tiered based on years of service beginning in year three. Part-time workers, re-hires, employees of affiliates, and employee physicians

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