TCG Administrators (“TCG”) has provided 403(b) and 457(b) plan administration and compliance services in Partnership with the California State Teachers’ Retirement System (“CalSTRS”) through the CalSTRS 403bComply program since 2008. At the time of our partnership, the proposed 403(b) IRS regulations drastically changed the marketplace and most schools sought out a TPA to assist with these new requirements if they weren’t already using one. CalSTRS hired TCG to assist in providing these services and since that time 403bComply has helped hundreds of districts and colleges in California through the Program by providing a turn-key transition plan, immediate compliance with State and Federal regulations, and access to multiple investment platforms.
Over the last thirteen years, the relationship between CalSTRS and TCG has grown into a strong, trusting partnership with both entities sharing the same goal of assisting districts with plan administration and compliance and providing employees with access to the best possible investment options to prepare for a secure retirement. Earlier this year, CalSTRS made the decision to transition out of the 403(b)/457(b) administration/compliance business to focus on providing 403(b) and 457(b) products at low cost through their Pension2 product. TCG will begin working to contract directly with each of our existing employers with no disruption or changes to your services, fees, investment options, processes, or team members you currently work with. The only practical change you will see is the contract will now be directly between your group and TCG instead of CalSTRS subcontracting TCG to provide these services.
TCG will be contacting you directly regarding the transition of contracts in place. If you have any immediate questions or concerns, please contact hello@tcgservices.com.
TCG Administrators is excited about the opportunity to continue to service you and your employees and looks forward to discussing some additional resources for financial literacy, educational presentations, and other online tools we will be rolling out to existing clients this school year as well.
