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Case Studies



Helping a Non-Profit Comply with New IRS Regulations

Like many non-profits, a New York charter school with 45 employees was operating its 403(b) plan without a plan document — a major violation of updated IRS regulations. Here’s how PlanPerfect brought them up to full compliance.


This Charter School, like many 501(c)(3)s, or non-profit organizations, was operating its 403(b) plan without a plan document in violation of IRS regulations. A 403(b) plan—also known as a tax-sheltered annuity (TSA) plan—is a retirement plan for certain employees of public schools, certain employees of tax-exempt organizations, and certain ministers of religious organizations.

In the regulations effective January 1, 2009, the Internal Revenue Service treats 403(b) retirement plans very much like 401(k) plans. The regulations require 403(b) plans to comply with the applicable requirements in both form and operation. Among other things, this means that every 403(b) plan must have a written plan document.

It also means that the IRS has put considerably more responsibility in the hands of employers maintaining 403(b) plans. Conversely, the consequences of not complying with these new rules have become much more significant.


PlanPerfect helped the Charter School “get with the plan” by creating a 403(b) plan document for the school and its participating employees, in compliance with the IRS regulations.


Contact us to discuss whether a 403(b) plan is right for your organization.

Phone: 949-223-8397

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