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PlanConnect's 403(b) Pre-approved Plan Document Program Update


On March 25, 2014 the IRS released a notice saying the submission period for vendors and volume submitters to submit their 403(b) plan documents to the IRS for review and approval was being extended to April 30, 2015. This extension means it will likely be 2016 or later before employers can begin adopting any pre-approved 403(b) plan document from any vendor.

Additionally, in the original details of the 403(b) pre-approved plan document program (Revenue Procedure 2013-22), the IRS announced that they will not release any notices of approval until all plan documents have been reviewed by them. The IRS also does not intend to establish an approval program for individually designed 403(b) plans.

To show our commitment to you and the 403(b) market place, PlanConnect will offer an IRS pre-approved plan document to all of our governmental public schools and non-ERISA non-profit organizations – at no additional cost This program will begin as soon as the IRS has released the approval notices and announced the remedial amendment period. PlanConnect will assist you – at no additional cost – in restating and amending your plan on to the IRS pre-approved 403(b) plan document.


IRS Pre-approved 403(b) Plan Document Program Key Dates
  • IRS pre-approved 403(b) plan document filing period is underway and ends on April 30, 2015
  • IRS is expected to release approval notices to vendors sometime after April 30, 2015.
  • Employers should adopt a pre-approved 403(b) plan document once the restatement and amendment period has been announced by the IRS.
  • PlanConnect will offer a pre-approved 403(b) plan document – at no additional cost.*

What to Do Next

No action is needed at this time. PlanConnect will contact you once the IRS has released the approval notices to all 403(b) pre-approved plan document submitters and announced the timeframe for restating and amending all 403(b) plans.

If you have any questions regarding the 403(b) pre-approved plan document program being offered by us, please contact us toll free at (800) 923-6669 from 9:00 AM to 5:00 PM ET, Monday through Friday.


 

*Governmental public schools and non-ERISA non-profit organizations only.

PlanConnect, LLC is a wholly owned subsidiary of AXA Distribution Holding Corporation, an indirect subsidiary of AXA Financial, Inc. PlanConnect® Connect2Remit®, Connect2Comply®, Connect2Maintain®, and Connect2Achieve® are registered service marks of AXA Distribution Holding Corporation. PlanConnect may not be available in all states. AXA Financial, Inc. and its family of companies do not provide tax advice. Please consult with your tax advisor regarding your particular circumstances. Each company is affiliated. AXA Distribution Holding Corporation and AXA Financial, Inc. are located at 1345 Avenue of the Americas, New York, NY 10105, (212) 544-1234.

PlanConnect, LLC is located at 100 Madison Street, Syracuse, NY 13202, (800) 923-6669.