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Text of IRS Notice 2015-7: Proposed Relief for Charter School Participants in Section 414(d) Governmental Plans (PDF)
Internal Revenue Service [IRS]Link to more items from this source
[Official Guidance]
Jan. 25, 2015
16 pages. "Section III of this notice describes the guidance under consideration, which would provide that employees of a public charter school may participate in a State or local retirement system if certain conditions are satisfied. Section IV of this notice discusses the potential for broader transition relief for governmental plans once final regulations under Section 414(d) are issued. Section V of this notice requests comments ... The guidance under consideration would take into account the special and unique nature of public charter schools, the governance structure associated with these schools, the structure of many public school systems that permit or encourage public school teachers to move between public charter and traditional public schools, and the relationship between public charter schools and the agencies authorized by the State or political subdivision of the State ... that hold these schools accountable for academic results. It is expected that the principles described in section III.A of this notice would apply regardless of whether the retirement plan is a defined benefit, defined contribution, Section 403(b), or Section 457(b) governmental plan." [Editor's Note: IRS has also released an undated Reference Guide which lists factors to be applied in considering charter school exemption applications.]

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