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403(b) and 457(b) Plan Documents
Presentor: Derrin Watson Recorded Date: 5/31/2016 Duration: 60 Min.

This program was recorded during a live presentation given on May 31, 2016 at 12:00PM EST.

We get a lot of questions about 403(b) and 457(b) plan documents. Practitioners keep trying to pound the round pegs of these plans into the square holes of the qualified plan world. But the pegs won’t fit! The detailed procedures that the IRS provided for qualified plans, which have long had determination letters and preapproved plans, just do not apply to these other types of plans. So what should a document sponsor do? This program will answer that key question, and report on the status of our 403(b) volume submitter document submissions with the IRS.

Topics include:

  • Status of 403(b) volume submitter documents
  • Absence of guidance
  • Legal requirements for restatements and interim amendments
  • Effect of 403(b) remedial amendment period
  • Effect of 457(b) governmental plan correction period
  • Correcting 403(b) and 457(b) document failures

There are no prerequisites or other advanced preparation for this program. The speaker will assume attendees have a basic familiarity with the qualified plan document rules. Attendees should have one year of experience.

Level: Beginning

Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

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

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

  • Identify document requirements for 403(b) and 457(b)
  • Use VCP to correct 2009 403(b) document failures
  • Advise a client of options for addressing 457(b) document failures

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