The IRS announced on Nov. 7 2022 in Revenue Procedure 2022-40 that it expanded the individually designed retirement plan determination letter program to include certain 403(b) plans.
Under Rev. Proc. 2022-40, the IRS allows 403(b) retirement plans used by certain public schools, churches and charities to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans. The change became effective immediately Nov. 7, 2022.
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