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Linda Segal Blinn

While adopting a plan document is the first step in establishing and maintaining a 403(b), an employer's commitment to its internal controls is equally important. In its webpage “Retirement Plan Errors Eligible for Self-Correction,” the IRS reminds employers*, “The plan sponsor must have routinely... READ MORE
Does a 403(b) plan have the authority to voluntarily transfer the account of a missing plan participant or beneficiary under the state’s unclaimed property or escheat laws?    State Law Terminology In a January 2019 Government Accounting Office (GAO) report, “Retirement Accounts: Federal Action... READ MORE
When the IRS audits a 403(b) plan, the pre-contact analysis includes a review of the Form W-2 (Wage and Tax Statement) for the year of the audit. According to the IRS 403(b) Examination Guidelines, an IRS auditor may be able to “identify potentially significant issues” with a 403(b) plan by... READ MORE
The Universal Availability rule ensures that if the employer allows one employee to defer salary into the 403(b) plan, all eligible employees will have the same opportunity—except those the law allows to be excluded and the 403(b) plan identifies the employee classification(s) not eligible to make... READ MORE
The IRS is reminding employers that the annual contribution limit for their 403(b) plans may require information from employees who participate in a qualified 401 plan of another employer. The Internal Revenue Code caps the total of employee contributions (other than the age 50+ catch-up),... READ MORE
Understanding key compliance areas can help ensure your plan complies with 403(b) regulations.  Did you know that, technically, the IRS 403(b) regulations do not require an employer to adopt a 403(b) plan document? A public school or a 501(c)(3) nonprofit organization with a 403(b) plan must... READ MORE
June 30, 2020—the deadline for employers to adopt an Internal Revenue Service (IRS) pre-approved 403(b) plan document for the first time—has passed. That date also marked the deadline for 403(b) sponsors to retroactively correct defects in their 403(b) plan documents (whether pre-approved or... READ MORE