Under IRS Revenue Procedure (Rev. Proc.) 2023-37, the plan amendment deadlines for pre-approved governmental plans are as follows:
Interim Amendments
In the case of an interim amendment, a provider (or the adopting employer, if applicable) adopts the amendment on time if the plan amendment is adopted by the later of:
- The last day of the second calendar year that begins after the issuance of the required amendments list (described in Rev. Proc. 2022-40) in which the change in qualification requirements or Internal Revenue Code Section 403(b) requirements appears; or
- To the extent any action is required to be taken by the adopting employer in order to adopt the interim amendment, 90 days after the close of the third regular legislative session of the legislative body with the authority to amend the plan that begins on or after the date the plan amendment becomes effective.
Discretionary Amendments
In the case of a discretionary amendment, an adopting employer (or a provider, if applicable) adopts the plan amendment timely if the adopting employer adopts the plan amendment by the later of:
- The end of the plan year in which the plan amendment is operationally put into effect; or
- To the extent any action is required to be taken by the adopting employer in order to adopt the discretionary amendment, 90 days after the close of the second regular legislative session of the legislative body with authority to amend the plan that begins on or after the date the amendment becomes effective.
Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...