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IRS 403(b) Regulations

IRS Final 403(b) Regulations were released July 23, 2007. To review a copy of the final regulations, click here.

TSACG continues to receive inquiries regarding these regulation, and therefore, we offer the below commentary for clientele.  
Now that the IRS 403(b) regulations became final, employers found themselves facing significantly increased compliance, liability and risk issues. The proposed changes imposed on 403(b) employers were of landmark proportions. Some of the notable changes included:

  • Written plan documentation will be required for all plans
  • Employer Control and Responsibility will increase
  • Employers will be responsible for “meaningful notice” 
  • Changes to rules governing universal eligibility
  • Centralized Recordkeeping will be critical to Compliance  

It is important that employers understand the impact of the proposed regulations and recognize what will be necessary to remain compliant in the ever-evolving 403(b) arena. The impact of the changes require employers to re-evaluate the effectiveness of internal management for their plans and the new compliance issues.

TSA Consulting Group, Inc. specializes in providing administrative, consulting and IRS compliance services for the retirement programs of public education employers. TSA Consulting Group is not a product provider: our goal is to assist you with compliance and employee education, not to sell a product to your employee. Additionally, TSA Consulting Group is conscientious of the budgets imposed on school districts; therefore, we price our services accordingly. Employer clients of TSA Consulting Group include twelve (12) of the twenty-five (25) largest K-12 school districts in the United States. Currently, approximately 900,000+ employees of 1600+ school districts and colleges receive compliance related educational components of TSA’s Compliance Edge Program®.

We have compiled a list of Frequently Asked Questions pertaining to the new Regulations. To view these questions along with their answers, click here.

Our service programs focus on:
  • 403(b) and 403(b)(7) Programs
  • 457(b) Deferred Compensation Programs
  • 401(a) Termination Pay Programs
  • Vendor Selection Process
  • Employee Education & Communication
  • IRS Compliance
  • IRS Audit Assistance
  • Interpretation of IRS Rules
  • Plan Document Services