Final Regulations Under Section 403(b)

On July 26, 2007, the Treasury Department and the Internal Revenue Service (IRS) issued final regulations under section 403(b) of the Internal Revenue Code that provide updated guidance on section 403(b) contracts and custodial accounts available to employees of public schools and certain tax-exempt organizations. The final regulations, which had been proposed in November 2004, represent the first comprehensive guidance issued under section 403(b) since 1964.

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