403(b) Plans Get (Some) 408(b)(2) Relief
Posted on Fri, Feb 03, 2012
403(b) Plans with old individual annuity contracts are excluded from the types of pension plans that are covered by the final rule.
The excluded contracts and accounts are those which were issued to affected employees before January 1, 2009, where the sponsoring employer ceased making contributions, where rights or benefits of individual owners of the contracts or accounts are enforceable against the insurer or custodian without employer involvement, and where such individual owners are fully vested in benefits provided under the contract or account.
