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Section 403(b) Compliance Guide for Public Education Employers : The Final 403(b) Regulations and Related Guidance - Ellie Lowder

Section 403(b) Compliance Guide for Public Education Employers

The Final 403(b) Regulations and Related Guidance

Hardcover Published: 28th February 2009
ISBN: 9781607092292
Number Of Pages: 109

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For several years, the Internal Revenue Service has been actively auditing public school districts'¬" TSA/403(b) programs and has indicated that the audits will continue until IRS field examiners routinely find that employers have compliance practices and procedures in place. Thus, school business officials must actively pursue compliance initiatives. It is imperative that compliance practices and procedures be amended to reflect the substantial changes contained in the Economic Growth and Tax Relief and Reconciliation Act of 2001 and subsequent IRS guidelines. This third edition incorporates the final regulations established on July 26, 2007 and provides both an explanation of the significant changes and a review of specimen forms and other resources prepared by the ASBO Retirement Plan Council (readily available at www.asbointl.org). Every effort is made in this edition to deal with '¬Smyths'¬ versus '¬Sfacts'¬ in terms of interpreting final regulations, as well as suggested '¬Sbest practices'¬ in continuing to maintain a 403(b) plan without an extensive administrative burden.

Introduction; What Is in This Guide?p. 1
ASBO: Section 403(b) Compliance Guide for Public Education Employersp. 5
What Are the Employers' Options to Comply?p. 11
Avoiding Compliance Responsibilitiesp. 15
Structuring and Adopting the Written Plan; Understanding the Inclusion of Non-Grandfathered "Orphan" Accounts.p. 17
The Internal Revenue Service Approval Programp. 25
ERISA and Fiduciary Issuesp. 27
Selecting and De-Selecting the Investment and Product Providersp. 31
Tax-Free Transfers, Exchanges, and Rolloversp. 35
The Basic Rules for 403(b) Plansp. 41
Types of Contributions Permitted; Limits and Coordination With 457(b) Plansp. 47
Avoiding Violation of the Universal Availability Requirementp. 55
Employer Contributionsp. 59
Communicating with Your Employeesp. 61
IRS Audits, Corrections, and Compliance Projectsp. 65
The Basics of Governmental 457(b) Plansp. 71
403(b) Compliance Checklistp. 79
457(b) Plan Compliance Checklistp. 85
Forms and ASBO Resourcesp. 89
Reader's Note and Disclaimerp. 107
About the Authorp. 109
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9781607092292
ISBN-10: 1607092298
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 109
Published: 28th February 2009
Country of Publication: US
Dimensions (cm): 21.84 x 13.97  x 1.52
Weight (kg): 0.25
Edition Number: 3
Edition Type: Revised