Changing The Playing Field: A Look At The Major Provisions Of The Final 403(B) Regulations Impacting 403(B) Plans.

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Changing The Playing Field: A Look At The Major Provisions Of The Final 403(B) Regulations Impacting 403(B) Plans.

Charitable organizations, public schools and universities may sponsor retirement plans that are governed by Section 403(b) of the Internal Revenue Code ("Section 403(b)"). The rules under Section 403(b) are different than the rules governing other types of retirement plans. In July 2007, the Internal Revenue Service (IRS) and the Department of Treasury issued final regulations governing these arrangements. The regulations comprise the first comprehensive Section 403(b) plan guidance in over 40 years and make major changes to the 403(b) playing field. The final regulations incorporate previous section 403(b) guidance made during the intervening years that significa...

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