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View More FIS Relius Education Webcasts and Conferences

Universal Availability: A Continuing Challenge to 403(b) Plans

FIS Relius Education

Oct. 19, 2016
Recorded Online
Webcast
With the release of the final 403(b) regulations and the revisions to the IRS correction program that included more 403(b) corrections, the IRS is focusing more attention on 403(b) plans. One of the primary focuses in IRS examinations of 403(b) plans is the universal availability requirement.

A 403(b) plan, unlike a 401(k) plan, does not have an ADP test. However, 403(b) plans are subject to the universal availability rule (elective deferral nondiscrimination requirement). In general, the universal availability rule requires a 403(b) plan to cover all employees and prohibits the plan from imposing an eligibility requirement with respect to elective deferrals. However, the rule does permit the plan to exclude certain employees (e.g., the 20 hour/week exclusion). The exclusions come with very specific rules. In recent guidance, the IRS has provided some flexibility with respect to universal availability as to exclusions for ERISA plans and with respect to the application of eligibility requirements for 403(b) plans. Because the universal availability requirement continues to be a hot topic for IRS examiners, understanding the universal availability rule, the exclusions and the recent flexible IRS interpretations is absolutely necessary for all 403(b) practitioners.

In this 60-minute webcast, we provide you with an understanding of the universal availability requirement and explain how to correct a violation of this important 403(b) requirement.

Topics include:
** Universal availability requirement
** Plans exempt from the requirement
** Exclusions
** New IRS guidance
** ERISA vs. non-ERISA plans
** 20 hour/week exclusion
** Exclusions subject to the all or not at all rule
** Correction of failure

Prerequisites:
There are no prerequisites or other advanced preparation for this program. The instructor will assume attendees have a minimum of one year of experience.

Level: Beginning
Instructional Delivery Method: Group Internet-Based
NASBA Field of Study: Taxes
Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives:
After attending this seminar, attendees should be able to:
** Explain the universal availability rule
** Apply the exclusions
** Implement new IRS guidance
** Design plans to take advantage of the new guidance
** Correct a plan that has violated the universal availability requirement
** Apply properly the 20 hour/week exclusion

More Information, How to Register

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