403(b)DOCUMENTUPDATE

PresentedBy:ChristineLeBlanc

403(b)Documents

• NewIRSpre-approveddocumentsnowavailable• RestatementdeadlinetogetretroactiverelianceisMarch31,2020• Retroactiveeffectivedatesasearlyas1/1/2010canbeused• Customeffectivedateandcustomlanguageattachmentswithretroactiveeffectivedates

403(b)Documents

• Newserviceproviderattachment• Approvedvendors• Un-approvedvendors• Serviceproviders• Plansponsorduties

403(b)Documents

• RestatementDeadline• March31,2020• Ifdocumentwasamendedtimelyforfinalregulationsthenplanmayhaveretroactivereliancebackto2010.• Allprovisionsmustbedocumentedinsomeform

• Interimamendments• Specialeffectivedateaddendum

403(b)Documents

5types• ERISAfor501(c)(3)Organizations• Non-ERISADeferralOnlyfor501(c)(3)Organizations• Non-ERISAforGovernmentalOrganizations• Non-ERISAforChurcheswithoutRIA• Non-ERISAforChurcheswithRIA

403(b)DocumentsERISAfor501(c)(3)Organizations• Robustdocumentintendedtoprovidemaximumflexibility• ContributionTypesIncluded• deferrals– pre-taxandRoth• voluntaryafter-tax• mandatory- after-taxandpre-tax• matchingcontributions• non-electivecontributions• rollovercontributions

403(b)Documents

ERISAfor501(c)(3)Organizations• OtherProvisions• ACPSafeHarbor• Auto-Enrollment– ACA,EACA,QACA• Integrated,AgeWeighted,andCross-TestedNon-ElectiveContributions

403(b)Documents

ERISAfor501(c)(3)Organizations• TestingProvisions• DesignedtobeUniversalAvailabilitycompliant• AllERISAlanguageincluded• ACPtestingelectionsincluded• 410(b)failurelanguageincluded

403(b)DocumentsNon-ERISA403(b)DeferralOnlyfor501(c)(3)Organizations• Designedtobeusedbya501(c)(3)organizationthatintendstomeettheDOLsafeharboroflimitedemployerinvolvementunder29C.F.R.section2510.3-2(f)• ContributionsTypesinclude• Deferrals– pre-taxandRoth• Voluntaryafter-tax• rollovercontributions

403(b)DocumentsNon-ERISA403(b)DeferralOnlyfor501(c)(3)Organizations• Doesnotinclude• Matchingornon-electivecontributions• Safeharborprovisions• Automaticenrollment• Vestingprovisions

403(b)DocumentsNon-ERISAforGovernmentalandChurchEmployers• Robustdocumentintendedtoprovidemaximumflexibility• ContributionTypesIncluded• deferrals– pre-taxandRoth• voluntaryafter-tax• mandatory- after-taxandpre-tax• matchingcontributions• non-electivecontributions• rollovercontributions

403(b)Documents

Non-ERISAforGovernmentalandChurchEmployers• OtherProvisions• Auto-Enrollment– ACA• IntegratedNon-ElectiveContributions

• NotIncluded• SafeHarbor• Auto-Enrollment– EACA,QACA• Age-WeightedandCross-TestedNon-ElectiveContributions

403(b)Documents

• Non-ERISAforChurchEmployers• SteepleChurch• QualifiedChurchControlledEmployers

• RetirementIncomeAccount• NotsubjecttoUniversalAvailability