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Category Archives: 403(b)
403(b) Prototype Program Excludes Plans with Vesting Schedules
Yesterday, I attended the IRS’ 403(b) Phone Forum featuring IRS Senior Tax Law Specialist Robert Architect. One of the topics briefly discussed by Mr. Architect was the new prototype program for 403(b) plans, as stated in Announcement 2009-34. One of … Continue reading
Posted in 403(b), IRS
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IRS Issues 403(b) LRMS and Details of Pre-Approved 403(b) Prototype Plans
Today, the IRS took two major steps forward toward pre-approving 403(b) plan documents when it issued the Listing of Required Modifications (LRM) for 403(b) plans and also issued Announcement 2009-34 which requests comments on the draft Revenue Procedure for 403(b) … Continue reading
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IRS Extends 403(b) Written Plan Requirement to December 31, 2009
Today, the IRS issued Notice 2009-3, which extends the written plan requirement for 403(b) plans for one year – to December 31, 2009. Specifically, Notice 2009-3 states that: “The Service will not treat a section 403(b) plan as failing to … Continue reading
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Still No News From IRS on Extension of 403(b) Written Plan Requirement
Today’s news is that there is no news on whether there will be an extension of time to comply with the Final 403(b) Regulations. The announcement made by IRS Senior Tax Law Specialist Bob Architect during the IRS’ webcast today … Continue reading
Posted in 403(b), IRS, Plan Language
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IRS Goes YouTube with 403(b) Information
The IRS has posted a series of 10 videos on YouTube about the Final 403(b) Regulations. Featuring Tax Law Specialists Bob Architect, the IRS’ authority on 403(b) plans, the videos are short, informative and worth watching. Each video is about … Continue reading
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Final 403(b) Regulation Date Tricky for Church Plans
As the general deadline of January 1, 2009 creeps closer and closer for most 403(b) plans to comply with the Final 403(b) Regulations, the applicability dates in the Final 403(b) Regulations deserves a little scrutiny. For church 403(b) plans, the … Continue reading
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Church 403(b) Plans, the Final 415 Regs, and Foreign Missionaries
Employee benefit plans involving churchs are fascinating because traditional employee plan concepts are a poor fit when it comes to church employees. With Church 403(b) plans caught in the intersection this year between the Final 403(b) Regulations, which may require … Continue reading
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The Great 403(b) Prototype Urban Legend
In the pension geek handbook, Chapter Three is devoted to Urban Plan Legends. You know those stories – someone worked at a firm with an ERISA attorney who went to law school with another ERISA attorney who knows a guy … Continue reading
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Turning IRS Model 403(b) Language into a Useable Plan Document
I wanted to see what the new Model 403(b) Plan released by the IRS in Rev. Proc. 2007-71 would look like as an actual plan document, so I formatted it using the common plan document style, including a table of … Continue reading
Model 403(b) Plan Language Released by the IRS includes Auto Enroll Language
When the IRS released the Final 403(b) Regulations earlier this year, they also announced that they would be releasing model plan language, and potentially a model plan itself, for plan sponsors to adopt. In the past, the IRS has released … Continue reading
Posted in 403(b), Automatic Enrollment, IRS
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