Schoolhouse rocked

Butler, Kelley M.
November 2007
Employee Benefit News;Nov2007, Vol. 21 Issue 14, p58
The article focuses on the impact of changes to 403()b) regulations on nonprofit employers. Chris Cumming, senior vice president at Great West Retirement Services, believes that writing formal documents to guide 403(b) will be the most challenging for schools to follow. The new regulations require 403(b) sponsors to carefully track contributions and distributions for every participant. It says that the U.S. Internal Revenue Service (IRS) and the Treasury are so adamant that noncompliance can result in nonprofits losing the tax favorability.


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