403(b)wise . Wise Information for Employers . The New Regulations

IRS Announces Delay in Written Plan Requirement More information » On July 23, 2007, the IRS finalized new regulations (set to go into full effect January 1, 2009) for public 403(b) retirement plans. The main highlights include: Requirement that a 403(b) program be maintained pursuant to a written plan which satisfies section 403(b) in both form and operation and contains all the terms and conditions for eligibility, limitations, and benefits under the plan. End to traditional 90-24 outside-of-plan transfers. Requirement to provide annual notification of eligibility (Universal Availability) Clarification of universal availability New information sharing requirements between employers and vendors IRS final regulations resources and information: Central IRS Site for 403(b) Information IRS Press Release Announcing New Regulations IRS Overview of Final Regulations Final Regulations Index to Final Regulations Universal Availability Model Plan Language for Public Schools Final Regulations FAQs by Senior IRS Tax Law Specialist Bob Architect Publication 571

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