403(b) Plan Document and Compliance Update

John A. Papahronis
John A. Papahronis
James C. Prince
James C. Prince

If you are a governmental or tax-exempt employer that sponsors a 403(b) retirement plan, there are important developments that require your attention.

For many years, the IRS offered little guidance to employers as to the specific plan document requirements applicable to 403(b) plans. However, recently the IRS has approved model and prototype plan documents that sponsors of 403(b) plans can adopt to ensure document compliance. As a result, your plan document vendor or service provider may be contacting you in the next few months to offer to restate your plan. This process may appear to be routine, but can result in significant exposure to liability if not evaluated carefully. In addition, the IRS has indicated that it is stepping up its audit activity with respect to such plans. So now is an opportune time to get your plan document in order and to otherwise review your plan’s compliance.

During this complimentary one-hour webinar geared specifically for governmental or tax-exempt employers, McAfee & Taft employee benefits attorneys John Papahronis and Jim Prince discuss the process and deadline for adopting the new pre-approved 403(b) plan documents and provide guidance to plan sponsors on how to avoid and correct common plan errors. Topics include:

  • 403(b) plan restatement process
  • Risk areas for employers
  • Common errors in restatements
  • Common errors in plan operation and administration
  • Changes to plan provisions
  • Service agreement issues


This complimentary webinar will be available for on-demand viewing beginning at noon (Central) on Wednesday, August 23, 2017. Please pre-register below to receive access information for the webinar as well as to sign up for certification credit, if interested. NOTE: Pre-registration closes Tuesday, August 22nd.

HRCI Pre-approved SHRM Preferred Provider

This program has been pre-approved for 1.0 HR (General) recertification credit hours toward PHR, SPHR and GPHR recertification through the HR Certification Institute. For more information about HRCI certification or recertification, please visit the HR Certification Institute website at www.hrci.org.

McAfee & Taft is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP. This program is valid for 1.0 PDCs for the SHRM-CP or SHRM-SCP. For more information about SHRM certification or recertification, please visit www.shrmcertification.org.