New IRS 403(b) Regulations

Compliance Strategies to Meet the Non-Profit Retirement Plan Requirements

New regs effective Jan. 1, 2009

Recording of a 100-minute CPE webinar with Q&A

Conducted on Thursday, April 23, 2009

Program Materials

This seminar will provide the bottom line for accounting professionals on all new and anticipated revisions to the Section 403(b) regulations on non-profits' employee retirement plans.


As of Jan. 1, 2009, the first comprehensive IRS update in 43 years of its Section 403(b) regulations governing non-profits' tax-sheltered employee retirement plans took effect. New terms and expectations in these regulations need immediate attention from non-profits and their accounting advisors.

Most importantly, retirement plan administrators must file with the IRS by Dec. 31, 2009, a detailed written document spelling out responsibilities for the non-profit and its retirement service providers. This first comprehensive plan will require considerable help from non-profits' advisors.

Advisors also must prepare non-profit clients for other demands in the new 403(b) regulations, ranging from new operational procedures to non-discrimination rules to permissible asset transfers. Additional regulatory changes are anticipated this year, requiring yet more preparation.

Listen as our panel of veteran accounting advisors to non-profits briefs you on all meaningful new terms and requirements of the updated 403(b) regulations. The panel will offer approaches to preparing the plan document and to bringing non-profits into speedy compliance.



  1. Key Aspects Of Revised Sect. 403(b) Regulations
    1. Minimize differences between 401(k) and 403(b) plans
    2. Make plan sponsors take greater fiduciary responsibility
    3. Create a written plan document by Dec. 31, 2009
      1. Including specific list of material terms and conditions
    4. New provisions affecting operation of tax-sheltered annuity plans
    5. Non-discrimination rules
    6. Permissible asset transfers
    7. Exceptions for certain organizations
  2. Key Aspects Of Additional Proposed 403(b) Regulations
    1. Sponsors of 403(b) plans subject to ERISA would have to complete entire Form 5500 (annual return/report of employee benefit plan)
      1. Non-ERISA exception
    2. Plans with more than 100 participants at beginning of plan year would have to give audited financials to Labor Department
  3. New Compliance Responsibilities
    1. Finding written plan documents for prior year
    2. Generating records supporting 403(b) activities, at the plan and participant levels
    3. Establishing plan-level accounting
    4. Placing controls over 403(b) plan operations
    5. Verifying whether excluded employees meet exclusion rules
    6. Setting uniform standards for service providers


The panel will prepare you to assist non-profit clients in these and other key areas:

  • Completing the plan document for the IRS: Making adjustments in existing procedures and gathering all needed information.
  • Adjusting to changes in 403(b) regulations: Fine-tuning retirement plan operations, avoiding mistakes with non-discrimination and asset transfer provisions.
  • Taking on new compliance duties: Creating new support records and controls, establishing plan-level accounting
  • Anticipating more regulatory changes: Prospect of creating an entire Form 5500, giving the Labor Department audited financials.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Karen Sanchez
Karen Sanchez

Partner and Director, Employee Benefit Plans Group

She leads a team providing all administrative services for clients' benefit plans and has worked in retirement plan...  |  Read More

Jerome Patterson
Jerome Patterson
Eide Bailly

He has more than 30 years of experience on ERISA matters and two decades on benefit plan design and administration.

 |  Read More
Jason Newman
Jason Newman

Member in Charge, Employee Benefits Plan Audit Group
Kostin, Ruffkess & Co.

He leads the firm's Employee Benefit Plans Group. He has more than 12 years of experience in auditing, accounting and...  |  Read More

Marcia Mueller
Marcia Mueller
Hinshaw & Culbertson

She splits her practice between ERISA-governed and non-qualified retirement plans, and estate planning. Before coming...  |  Read More

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