One of the more difficult rules that the IRS has imposed on the 403(b) market in recent years is the complete ban on issuing determination letters on individually designed 403(b) plan documents, under any circumstance. But buried in Rev Proc 2017-41 is something we have been looking for in the 403(b) space, which actually would help alleviate some of the concerns document drafters have with these long-standing plans.
Continue Reading IRS’s New 401(k) Pre-Approved Document Rules Suggests a Path To Address 403(b) Document Challenges
403(b) prototype
IRS Announcement 2009-34: The 403(b) Prototype Program Takes Shape In a Well Written Way
By Robert Toth on
Posted in 403(b)
Just when I thought I was going to get a chance to talk a bit about annuities again, the IRS drops a bomb: it has proposed the design of its long awaited 403(b) prototype program and List of Required Modifications. Announcement 2009-34 is the description of the prototype program; and the LRMs can be…