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403(b) Program Creates Concerns About Future of Individually Designed Plans
Bloomberg BNA
June 4, 2013
"The news from IRS that 'limited resources' make it infeasible for the agency to establish a determination letter program for individually designed 403(b) plan documents was unexpected and potentially the most disruptive guidance in a revenue procedure that the agency released March 28 ... Not having a determination letter program for individually designed 403(b) plans might make the volume-submitter program more attractive to benefit practitioners because it is the most flexible preapproved document program that IRS offers[.]"
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