IRS Issues Long-Awaited Proposed Regulations for 403(b) Plans
November 18, 2004
A notice of proposed rulemaking published this week by the Internal Revenue Service is aimed at conforming the regulations governing 403(b) plans to reflect numerous pension and tax law changes that have been enacted over the past three decades. In addition, the proposed rules are aimed at further diminishing the differences between 401(k) plan rules and those for the 403(b) plans. The rules would become effective for tax year 2006. The IRS must receive comments on the rules by February 14, 2005. A public hearing has been scheduled for February 15.
- elective deferrals;
- catch up rules for employees over 50;
- determination of years of service;
- nondiscrimination rules and universal availability;
- timing of distributions and benefits;
- funding of plans; and
- controlled group rules.
Requests to testify and an outline of topics to be discussed at the February 15 hearing must be received by the IRS no later than January 25, 2005.
- Senator Releases Survey Results on Sexual Assault
- ED Unveils 2014 College Cost Watch Lists
- Inflation-Adjusted Net Tuition Revenue at Private Institutions Flat
- ON-DEMAND: Call the Internal Consultants: Lessons from Business Practice Improvement
- ON-DEMAND: FASB's Proposed NFP Reporting Changes
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- ON-DEMAND: VIRTUAL: Global Operations Support and Compliance Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis