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403(b) Plans: New Pre-approved Plan Procedure and Sample Language
Presentor: Derrin Watson Recorded Date: 4/16/2013 Duration: 100 Min.

This program was recorded during a live presentation on April 16, 2013.

The IRS has finally released its long-awaited pre-approved plan procedure (Rev. Proc. 2013-22) and the sample language (LRM, 81 pages) that accompanies the procedure. The new procedure outlines the requirements for the first-ever pre-approved plan program (prototype and volume submitter) for 403(b) plans. The procedure and the sample language are even more important in light of the announcement that the IRS will not have an approval program for individually designed plans or provide individual determination letters.

The sample language provides some important clarifications to the universal availability requirements, as well as the 20-hour exclusion and a new 415 notice requirement. In this web seminar, we discuss (using examples or case studies where necessary) all of the major changes and clarification to the 403(b) requirements. In addition, we explain the new pre-approved plan program, including reliance, submission deadlines, and the 403(b) remedial amendment period. This seminar gives you a complete overview of the new and changed rules and procedural requirements that affect 403(b) plans. For those practitioners who work with 403(b) plans, the presentation will provide vital practical information.

Topics include:

  • Revised universal availability requirement; delay in plan entry
  • Using the 20-hour exclusion in an ERISA plan
  • New 415 notice requirement
  • Prototype plan requirements
  • Volume submitter plan requirements
  • Reliance on approval letters
  • Deadline for submission
  • Allocating plan administrative responsibilities

Prerequisites: There are no prerequisites or other advanced preparation for this program. However, the speaker will assume that participants understand the fundamentals of 403(b) plans.

Level: Intermediate

Instructional Delivery Method:
Group – Internet-Based

Speaker - S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this Web seminar, an attendee should be able to:

  1. Identify important changes in 403(b) plan language requirements
  2. Implement revised 20-hour exclusion rule
  3. Design a compliant 403(b) plan with the new prototype and volume submitters which will become available
  4. Advise a client how to comply with revised universal availability requirement
  5. Determine reliance on approval letters
  6. Identify the investment vendors in the plan
  7. Determine deadlines for submitted documents for IRS approval

Hardware System Requirements:

  • Windows 95, 98, NT 4.0, 2000, XP, Windows 7
  • Internet Explorer 4.01 or later, Netscape 4.08 or later, and set Internet browser to allow pop-up windows.
  • High-speed Internet connection.
  • Pentium 166+ MHz, 128MB RAM or more.
  • 1023 x 768 or higher display resolution.
  • Soundcard and Speakers.

Software Requirements:

Program related requests, questions, or concerns may be emailed to: