Proposed 403(b) Regs

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Are the proposed regs effective for plan years beginning on or after 1-1-2007 or do they have to be finalized before they are effective?

[Ellie Lowder]

Since they cannot be relied on in proposed form, we won't know effective date until we see them (according to Treasury/IRS on "June 40th" which might mean by July 10 or so?). Many have asked for later effective dates in view of substantial proposed changes and the need for employers & vendors to prepare. We have heard everything from 1/1/07 to 1/1/08.

Are the proposed regs effective for plan years beginning on or after 1-1-2007 or do they have to be finalized before they are effective?