403(b) & 457 Plans
403(b) plansAlso known as a tax-sheltered annuity (TSA) plan, may be sponsored by a public school, college or university or a charitable entity tax exempt under IRC section 501(c)(3). These plans function similarly to 401(k) plans with tax deferred treatment of deferrals and earnings. Recently, the regulations governing administering and reporting 403(b) plans have changed. If you are an employer considering sponsoring or currently maintaining a 403(b) plan, you should contact your benefits specialist to determine the impact of these new regulations on your plan.