CCC’s PRIVACY POLICY FOR PERSONAL INFORMATION

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.