There are three types of providers for purposes of the Authorized Provider List (pdf):

• Investment Provider — A provider who is authorized under the Plan to receive contributions (has a “payroll slot” with the employer’s 403(b) plan).
• Former Investment Provider — A provider who was authorized to receive contributions after Dec. 31, 2004, but is no longer authorized under the Plan to receive contributions (does not have a current “payroll slot” with the employer’s 403(b) plan).
• Vendor — A provider who is authorized under the Plan to receive a Contract Exchange, but is not authorized to receive contributions.

There are three ways to move an account balance:

• Investment Exchange — Moving money in a Participant’s account between current Investment Providers.
• Contract Exchange — If permitted under the Plan, moving money in a Participant’s account to a Vendor, that is authorized by the employer to receive a Contract Exchange, but is not authorized to receive contributions.
• Plan to Plan Transfer — If permitted under the plans, transferring a Participant’s account between a former employer’s 403(b) plan into the current employer’s 403(b) plan or from a former employer’s 403(b) plan into another former employer’s 403(b) plan.

No. However, the plan sponsor should keep a list of authorized providers in some form. Employers subject to retirement plan nondiscrimination testing are required to maintain a list of providers. In order to comply with the 403(b) regulations, an employer will need to be able to identify the following:

• Authorized Investment Providers who are eligible to receive contributions;
• Former Investment Providers (no longer eligible to receive contributions); and
• Vendors who are eligible to receive a Contract Exchange, but not eligible to receive contributions.

GuideStone provides this form as a convenience to the plan sponsors that we serve. Employers are free to use whatever form they want to identify these entities. Plan sponsors must maintain an updated copy of this information with GuideStone in order to ensure the proper administration of the plan sponsor’s 403(b) plan. Plan sponsors should provide GuideStone with an updated list as soon as possible after changes are made.

One of the biggest advantages of designating GuideStone as the sole Investment Provider is to ease the administrative burden that the 403(b) regulations put on the plan sponsor. GuideStone’s employees are highly experienced with 403(b) plans. For several decades, we have worked with churches, ministries, schools, hospitals and universities to properly document and administer their plans.

In order for GuideStone to shoulder most of the compliance burden, the plan sponsor should not permit Contract Exchanges to any Vendors. The plan sponsor may have compliance responsibilities for any participants who have an account with a Former Investment Provider or with a Vendor because of a prior Contract Exchange, since this information is not available to GuideStone. However, this responsibility may also be eliminated by not permitting loans and hardship distributions from Former Investment Providers or former Vendors, if this is permitted under the contracts with the Former Investment Provider or former Vendor.

On the Authorized Provider List (pdf), made available by GuideStone, do the following:

1. Write in the name of the plan sponsor beside “Employer.”
2. Indicate the date when this is to be applicable beside “Effective Date.”
3. Check the first box beside “GuideStone is the sole Investment Provider under the Plan.”
4. Have the authorized person complete the Employer Authorization section. 
5. Make a copy of this form and send the copy to GuideStone. 
6. Keep the original forms with your other 403(b) plan documentation.

If the plan sponsor wants to continue to allow contributions to other Investment Providers or Contract Exchanges to Vendors, GuideStone can still assist with compliance monitoring of loans and hardships if the plan sponsor only permits loans and hardship distributions to be taken from accounts at GuideStone.

To the extent allowed by the other Investment Providers and Vendors, participants with money at other Investment Providers and Vendors may make an investment exchange to GuideStone prior to taking a loan or hardship distribution. By doing this, GuideStone’s recordkeeping system will have all the information necessary to monitor the participant’s loans and hardships for compliance with the regulatory requirements.

On the Authorized Provider List (pdf), made available by GuideStone, do the following:

1. Write in the name of the plan sponsor beside “Employer.” 
2. Indicate the date when this is to be applicable beside “Effective Date.”
3. Check the first box beside the word “Current Investment Providers are approved under the Plan.” List all the current Investment Providers and complete all the applicable information. Indicate a “Yes” in the last two columns on the row that lists GuideStone, if loans and hardships are available under your plan, and indicate a “No” in the last two columns of all other Investment Providers.
4. List all Former Investment Provider information and write “No” in the last three columns for all of the Former Investment Providers (“Approved for Contract Exchange,” “Approved for hardship distributions” and “Approved for loans”).
5. Have the authorized person complete the Employer Authorization section.
6. Make a copy of this form and send the copy to GuideStone.
7. Keep the original forms with your other 403(b) plan documentation.

Caution: The plan sponsor should make sure Investment Providers and Vendors will honor the plan sponsor's decision to have loans and hardships processed through one Investment Provider. For instance, some Investment Providers contracts may not be able to be changed.

If the plan sponsor has a Former Investment Provider, the plan sponsor will have some additional compliance responsibilities until all participants with funds at the Former Investment Provider no longer have accounts there. Although monitoring maximum contribution limits may not be an issue with a Former Investment Provider, the plan sponsor will be required to monitor distribution and loan limits.

On the Authorized Provider List (pdf), made available by GuideStone, do the following:

1. Write in the name of the plan sponsor beside “Employer.”
2. Indicate the date when this is to be applicable beside “Effective Date.”
3. Check the first box beside the word “Current Investment Providers are approved under the Plan.” List all the current Investment Providers and complete all the applicable information. Indicate a “Yes” or “No,” based on the provisions in the plan and whether or not your plan wants to permit these from a Former Investment Provider, in the last two columns on the row that list GuideStone.
4. List all Former Investment Providers' information and complete the last three columns with either a “Yes” or “No” for all of the Former Investment Providers.
5. Have the authorized person complete the Employer Authorization section.
6. Make a copy of this form and send the copy to GuideStone.
7. Keep the original forms with your other 403(b) plan documentation.

Caution: By designating a Vendor to receive Contract Exchanges, the plan sponsor will be adding additional compliance responsibilities due to the fact that the participants in the plan may have funds with multiple providers. In addition to monitoring maximum contribution limits, the plan sponsor will also be required to monitor distribution and loan limits.

On the Authorized Provider List (pdf), made available by GuideStone, do the following:

1. Write in the name of the plan sponsor beside “Employer.”
2. Indicate the date when this is to be applicable beside “Effective Date.”
3. Since the plan sponsor is permitting a Contract Exchange, GuideStone will not be able to serve as the plan sponsor's sole Investment Provider. Check the first box beside the word “Current Investment Providers are approved under the Plan.” Indicate a “Yes” or “No,” based on the provisions in the plan in the last two columns on the row that lists GuideStone.
4. List the Vendor approved for Contract Exchanges and put a “Yes” in the “Approved for Contract Exchange” column. Under the last two columns, indicate either a “Yes” or “No,” based on the provisions in the plan and whether or not your plan wants to permit these from a Vendor.
5. Have the authorized person complete the Employer Authorization section.
6. Make a copy of this form and send the copy to GuideStone.
7. Keep the original forms with your other 403(b) plan documentation.