Retirement Plans Newsletter

BULLETIN
December 4, 2018

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[Official Guidance]

Text of IRS Notice 2018-95: Relief from the Once-In-Always-In Condition for Excluding Part-Time Employees from Making Elective Deferrals Under a Section 403(b) Plan (PDF)

15 pages. "This notice provides transition relief from the 'once-in-always-in' (OIAI) condition for excluding part-time employees under Section 1.403(b)-5(b)(4)(iii)(B) of the Treasury Regulations. Under the OIAI exclusion condition, for a Section 403(b) plan that excludes part-time employees from making elective deferrals, once an employee is eligible to make elective deferrals, the employee may not be excluded from making elective deferrals in any later exclusion year ... on the basis that the employee is a part-time employee. In addition, in applying the OIAI exclusion condition for exclusion years after the transition relief ends, this notice provides a fresh-start opportunity for plans."
Internal Revenue Service [IRS]

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