On Aug. 29, 2006, the Internal Revenue Service announced that the general effective date for the regulations regarding section 403(b) arrangements that were proposed in 2004 — including the regulated controlled group regulations under section 414(c) — will be extended.
In order to provide employers, employees, insurance carriers and mutual funds involved in section 403(b) arrangements a reasonable advance period before the regulations go into effect, the final regulations generally will not be effective earlier than January 1, 2008.
Look for additional GuideStone communications in the future to preview certain items that may be in the final regulations that could have significant impact on the way 403(b) plans are operated.
View additional 403(b) Regulation updates and other compliance resources.
Contact your GuideStone relationship manager for more information.