403(b) Deadline Nears

In less than one month, all 403(b) plans will be required to maintain a written Plan document for the first time in the history of 403(b)! In the final 403(b) regulations, the IRS originally indicated that all 403(b) Plans be administered in accordance with a written Plan document as of January 1, 2009. The IRS later extended the deadline to December 31, 2009-less than 30 days away.

Our clients need not worry-you finalized your written Plan some time ago.

Public schools, most religious organizations and 501(c)(3) organizations with elective deferral contributions were never required to maintain a written document until now. (Plan Sponsors of ERISA 403(b) plans have been required to maintain a written document for over 30 years).

You may know of business associates or colleagues who have yet to comply with the new regulations. Please let them know that ADMIN Partners is ready and able to assist them. For information on our 403(b) Plan administration and record keeping services contact Mark Heisler at 877-484-4400.

Thank you for your continued support. We appreciate your business very much!