New 403(b) Regulations Released
On July 23, 2007, the Treasury Department and the Internal Revenue Service ("IRS") released final regulations under section 403(b) of the Internal Revenue Code of 1986. The final regulations will require a greater level of employer involvement in the documentation and operation of 403(b) arrangements. The general effective date is January 1, 2009.
MetLife can help!
We're here to help you understand the new regs and their potential impact on your 403(b) program. The following links provide details that you may find both informative and helpful:
 403(b) Regs Webcast on Universal Availability Requirements
MetLife hosted the third in a series of webcasts on April 2, 2008. This event addressed topics such as which employers are affected by the new regulations, defining an “effective opportunity” to participate in a plan, identifying employees who are eligible to participate in a plan, and clarifying excludible classes of employees.
- White Paper on Universal Availability
The Internal Revenue Service issued final regulations for 403(b) plans in July of 2007. The new rules make 403(b) plans look more like 401(k) plans; however, there are still important differences between 403(b) and 401(k) plans. One of these differences is the Universal Availability requirement which is the subject of this white paper. We have prepared an in-depth discussion on the “universal availability” requirement as it impacts an employer’s 403(b) plan.
- 403(b) Regs Webcast on Information Sharing Agreements
MetLife hosted the second in a series of webcasts on February 20, 2008. The event featured panelists who discussed how the change in rules concerning contract exchanges and transfers might impact a 403(b) plan. Also explored was the relevance of Information Sharing Agreements to overall 403(b) plan design.
- White Paper on Information Sharing Agreements
In late November 2007, the IRS released additional guidance on the final 403(b) regulations. This guidance, known as Revenue Procedure 2007-71, provides important clarification regarding transfer rules and information sharing agreements, as well as a Model Plan promised for public schools.
MetLife commissioned this special white paper to help employers understand some of the more technical aspects of the new IRS guidance.
- 403(b) Final Regulations Webcast
MetLife hosted a webcast for clients on September 12, 2007 featuring a panel of presenters who:
- Gave a brief history of the reg changes from a Capitol Hill perspective;
- Presented the new regs in detail from a legal perspective; and
- Explained what MetLife is planning to help you comply with the new regs.
- Summary of Key Provisions
This is a summary overview of the 403(b) regulations which provides a fairly high level explanation and outlines the implications for employers.
- Frequently Asked Questions
Talking points in Q&A format that simplify some of the complexities of the new 403(b) regulations.
Other Resources
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