Carruth Compliance Consulting

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Due to the nature of its business, Carruth Compliance Consulting, Inc. ("CCC") must collect sensitive personal information about employees of our client employers.

What Is the Nature of CCC’s Business?

  • CCC helps our clients who are school districts, community colleges, charter schools and non-profit organizations administer their 403(b) plans which are also known as tax-sheltered annuity plans and/or 457(b) plans which are also known as deferred compensation plans.
  • CCC helps our clients’ employees and former employees understand how their 403(b) and/or 457(b) plans work and process contributions to the plans, money transfers within the plans and distributions out of the plans.

What Type of Personal Information Does CCC Use?

  • The types of personal information CCC collects, uses and shares relates only to helping our clients administer 403(b) and 457(b) plans.
  • This information can include: social security number, employment information, and retirement plan investment information.

Why Does CCC Use Personal Information?

  • CCC monitors contributions to ensure that participants do not exceed IRS contribution limits;
  • CCC remits contributions and related participant date to investment companies (vendors); and
  • CCC processes various types of plan transactions on behalf of participants and their employers including but not limited to the following:
    • Distributions, based on age eligibility and/or severance from employment;
    • Loans;
    • Hardship distributions;
    • Contract exchanges within the plans;
    • Plan-to-plan transfers;
    • Qualified domestic relations orders (QDROs);
    • Death benefit requests.

Who Provides Personal Information to CCC?

  • CCC’s client employers who sponsor 403(b) and 457(b) plans;
  • Investment companies (vendors) who custody, record keep and manage the 403(b) and 457(b) plan assets; and
  • Plan participants themselves, when plan transactions are processed.

Who Does CCC Share Personal Information With?

  • CCC’s client employers;
  • Plan Investment companies (vendors);
  • Responses to court orders and legal investigations;
  • The Internal Revenue Service (IRS) upon request during plan audits; and
  • Participants themselves.

Does CCC Use Sensitive Personal Information For Marketing Purposes?

  • No.

Privacy Policy For Personal Information Revision Date

  • Revised as of 10/26/2020.

If You Have Questions About CCC’s Privacy Policies:

  • Submit a request via our Ask-CCC page.



Page Last Modified: 10/26/2020 11:34:02 AM