403(b) regs

[Felicia]

It is my understanding that on and after 8/25/07 if assets are exchanged from one vendor to another and information sharing agreement may be required. That is, share information re loans, hardships, distributions, etc.

However, if an employee does not exchange assets, the information sharing portion goes into effect on January 1, 2009 when the plan document is in place. So, if an employee wants to take out a loan from an existing vendor before January 1, 2007, that can be done without first going to the employee to see if any other vendor offered a loan.

Is this correct?

[Felicia]

Minor corrections:

First line: 8/25/07 should be 9/25/07

Second paragraph: both dates should be January 1, 2009

[joel]

Minor corrections:

First line: 8/25/07 should be 9/25/07

Second paragraph: both dates should be January 1, 2009

Felicia--FYI. You can make the corrections onto the original post just by pressing "edit" and then resubmitting.

Joel