A 403(b) plan is a tax-advantaged retirement savings plan designed for employees of certain tax-exempt organizations, such as public schools, colleges, universities, hospitals, and religious ...

Yes, if certain conditions are met. An employer is permitted to amend its 403(b) plan to eliminate future contributions for existing participants, or to limit participation to existing participants ...

Continuing a recent trend to more closely align 403(b) plans with tax-qualified 401(k) plans, the Internal Revenue Service (“IRS”) recently issued Revenue Procedure 2022-40 (November 7, 2022) to ...

Seyfarth Synopsis: In November 2022, the Internal Revenue Service (IRS) announced in Revenue Procedure 2022-40 an expansion to its Determination Letter Program which for the first time will permit ...

A 403(b) retirement plan, also called a tax-sheltered annuity plan, is a specialized retirement plan for employees of public schools and certain non-profit organizations. The plan, like a 401(k), is ...