Updating 403(b) plan docs.

[Guest Frankie]

Since there is no Remedial Amendment Peiod for 403(B) and 457 plans would everyone agree that the plan must be operated under the current regulatory requirements even if the language is not yet in the plan or agreement but that regulatory changes that may be voluntarily adopted may not be implemented unless formally in the plan or agreement ?

[mbozek]

403(B) plans are not subject to a RAP. They must only be operated in accordance with the IRC. A 403(B) plan is not required to be operated in accordance with its terms because a 403(B) plan is not a qualified plan.