Randall & Hurley, Inc.
Loren D. Stark Company
EPIC Retirement Plan Services
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|IRS Issue Snapshot: 403(b) Plan – the Universal Availability Requirement|
Internal Revenue Service [IRS]
Aug. 11, 2021
"A common error occurs when employees, working less than full-time, are automatically excluded from making elective deferrals under the 403(b) plan.... Issue Indicator: A 403(b) plan using the statutory exclusions under IRC Section 403(b)(12)(A)(ii). Audit Tips:  Review plan language for excluded employees.  Verify the plan provides an effective opportunity to participate for all non-excludible employees.  Review whether the plan may be eligible for transition relief under Notice 2018‑95."
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