One of the new and final regulations to 403 b plans is ones that are funded through annuity contracts. The plan must provide a predetermined formula for distributing the funds in the plan after a fixed number of years or after an occurnace of an event such as a layoff, illness, disability, retirement or death. This is a new 403b distribution rule.
The final regulations also generally follow the 401 k rules for determining whether there is severance from employment, which would permit distributions or omit the ability to make elective deferrals.
For purposes of distributions from a 403b plan, they now provide that a seeverance occurs whan an employee ceases to be employed by an eligible employer that maintains the 403b
An employee transferring from a tax exempt parent to a for profit.
New 403b Rules
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Understand the new 403b retirement planning rules for 2009. Free assistance from American Investment Training. Learn from the company that trains the breoker dealers on 403b planning rules and the new regulations.
Review and get assistance on the new 403 b plan regulations. These final rules include developing a plan document, review operations in the 403 b plan, form 5500 requirement and reviewing frozen and current investment relationships.
Some of these new regulations will depend on the type of 403 b involved or plan status. These are generally:
Non Actively Sponsored Plans
Actively Sponsored 403b
Actively Sponsored Hybrid Account
Submit a question or read more on the new admin rules for these retirement plans: 403b planning rules
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