Representatives of the National Tax Sheltered Accounts Associations and the American Society of Pension Professionals & Actuaries have urged the IRS to include Section 403(b) plan documents in the agency's pre-approved plan program. The sponsors of these plans include public schools and charitable organizations. The reps are concerned that if the IRS does not add 403(b) arrangements to the pre-approved program, it would do a major disservice to the 403(b) community and the goal of compliance with tax laws.
See Brian H. Graff, et al, "Tax Deferred Annuity Plan Documents Should Be Included In Preapproved Plan Program, Pension Reps Say," Tax Notes (2012 TNT 15-20, Jan. 24, 2012).
Posted by Andrew Hodes, Associate Editor, Wealth Strategies Journal.
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