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Text of IRS Proposed Reg Allowing Exclusion of 501(c)(3) Employees Under Minimum Coverage Test (PDF)
Internal Revenue Service [IRS]
[Official Guidance] Mar. 16, 2004
2 pages. Excerpt: The proposed amendments permit, in certain circumstances, employees of a taxexempt organization described in section 501(c)(3) to be excluded for the purpose of testing whether a section 401(k) plan ... meets the requirements for minimum coverage specified in section 410(b). These regulations will affect tax-exempt employers described in section 501(c)(3), retirement plans sponsored by these employers, and participants in these plans.
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