Final 403(b) Regulations Issued by IRS Require Employer Action  

September 01, 2007

The IRS has issued the long-awaited final regulations under Section 403(b) of the Internal Revenue Code. These regulations are welcome, because they provide guidance on many of the rules pertaining to 403(b) plans. However, the regulations introduce or explain a number of rules which create significant new responsibilities for employers, and which will require employers to amend and update their 403(b) plans and to establish or revise administrative procedures for complying with Section 403(b).

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