Est. time: 11 min
On July 26, 2007, the Internal Revenue Service released the final 403(b) regulations for public school employee retirement plans. This regulation requires school districts that sponsor a 403(b) plan to offer all employees the opportunity to set aside money on a tax-deferred basis for retirement using a payroll deduction process. Developed by Carleen Pierce of Canandaigua City School District in partnership with OMNI, this tutorial will help school employees understand the basic regulations which the school district imposes for participants in these programs. More specifically, you will learn about the Universal Availability Requirement, what a 403(b) plan is, the benefits of participating, who is eligible to participate, and what the contribution limits are.