"Unfortunately, the new procedure also announces that the Service 'does not contemplate the issuance of individual determination letters to sponsors of Section 403(b) plans.' Essentially, the guidance appears to push individually designed plans into pre-approved plans if such plans want 'reliance' that they satisfy the applicable document requirements. The IRS indicates that these limitations -- which will unfavorably impact many public school, university and church 403(b) arrangements, among others -- are necessary 'to more efficiently direct its limited resources'."  MORE >>