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The Final 403(b) Regulations are here.
This information is provided as guidance. It is not intended to be legal or tax advice.
The final IRS regulations for 403(b) plans released on July 26, 2007 mean more oversight responsibility for plan sponsors, and 403(b) sponsors generally need to comply with these final regulations effective January 1, 2009.
The prospect of meeting the new requirements in light of your limited time and resources does not need to be overwhelming. From plan documents, common remitter capabilities and plan administration services to education for both plan sponsors and participants, ING is here to help you handle the increased plan administration the final regulations entail.
ING (including its legacy companies) has been a 403(b) service provider to schools and their employees since 1967. With over 850,000 individuals participating in our 403(b) investment vehicles1, we understand the demands placed upon public schools and 501(c)(3) hospitals/not-for-profit organizations, and the limited resources available to you.
You can also Contact us to request that an ING representative get in touch with you to provide you with more information about the regulations.
These materials are not intended to be used to avoid tax penalties, and were prepared to support the promotion or marketing of the matter addressed in this document. The taxpayer should seek advice from an independent tax advisor.
Insurance products, annuities, and retirement plan funding options issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Annuities issued by ReliaStar Life Insurance Company, 20 Washington Avenue South, Minneapolis, MN 55401. Securities offered through ING Financial Advisers, LLC (member SIPC), and other broker-dealers with which it has selling agreements. These companies are members of the ING family of companies. Insurance obligations are the responsibility of each individual company. Products and services may not be available in all states.
1Statistics based on internal data as of 03/31/2009
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