Guest LFrankel Posted June 9, 2000 Posted June 9, 2000 Does anyone know if the IRS has made a determination on negative elections for 403(B) plans? I understand that in the light of the 401(k) ruling, it was being contemplated.
Carol V. Calhoun Posted June 12, 2000 Posted June 12, 2000 I don't believe that they have so far, although last I heard, they were working on it. Anyone else heard of anything new in this area? ------------------ Employee benefits legal resource site Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
Ellie Lowder Posted June 15, 2000 Posted June 15, 2000 There is currently a private letter ruling request in front of the IRS, and it is probable that we'll see that yet this year. There has even been "talk" about issuing a revenue ruling in view of the importance of the issue, but, of course, we can't rely on that "talk"! I also hear that the PLR will be favorable, e.g., that negative elections would be applicable to certain types of 403(B) plans (surely not to elective deferral-only plans, but to employer contribution and matching plans, whether ERISA or non-ERISA). Remember: as always, things could "flip-flop", so we can't take this to the bank!
Guest David Kolhoff Posted August 21, 2000 Posted August 21, 2000 In case you've not yet heard, Rev. Rul. 2000-35 was published in mid July. It permits negative elections for 403(B) plans.
Carol V. Calhoun Posted August 27, 2000 Posted August 27, 2000 Here's a link to Rev. Rul. 2000-35, in case you are interested. Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
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