SIA Submits Comments to the IRS on Proposed Regulations Under Section 403(b) Of The Internal Revenue Code
Published on:
June 16, 2005
The Securities Industry Association (SIA)* provides comments to the Internal Revenue Service (IRS)on proposed regulations under Section 403(b) of the Internal Revenue Code (Code). The 403(b) arrangements allow smaller non-profit organizations to sponsor an employeeretirement plan relatively inexpensively as compared to, for example, a 401(k) plan. The proposed regulationsare intended toclarify403(b) arrangements and provide additional guidanceto the sponsors.
SIA believes that the proposed regulations would discourage greater retirement savings opportunities for smaller 403(b) plan sponsors.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.