August 9, 2007
Nonprofit Groups Face New Rules on Providing Retirement Benefits
The Internal Revenue Service has approved big changes in the rules that govern 403(b) retirement plans — a move experts say will soon mean more paperwork for many nonprofit organizations and clearer options for many employees who invest in the plans.
The overhaul eliminates previous rules that had been in effect since the 1960s and makes 403(b) plans look more like corporate 401(k) accounts, which allow workers to shelter their earnings from taxes until the cash is
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