LexisNexis® Legal Newsroom
Sutherland Legal Alert: Two Classes of Annuity Providers Do Not Violate § 403(b) Universal Availability Requirement

By Mark Smith and Vanessa Scott In Private Letter Ruling 201142033 (July 25, 2011), the Internal Revenue Service (IRS) ruled that the IRC § 403(b) universal availability requirement was not violated merely because (i) a university system made available two classes of annuity providers and (ii)...

Williams Mullen: Matching Contribution Feature Subjects 403(b) Plan to ERISA

BY: CATHERINE M. MARRIOTT & NONA K. MASSENGILL Tax-exempt entities that sponsor IRC Section 403(b) plans typically operate their plans to avoid the application of ERISA. ERISA will not apply if the plan can satisfy a safe harbor exemption. Central to the safe harbor is limited employer involvement...