IRS Regulations


Florida's school districts were up against a January 2009 deadline to meet new requirements imposed upon them by the IRS related to their supplemental retirement plans, such as 401k, 403b and 457 tax-sheltered accounts.


Historically, it has been up to the investment firms to ensure their plans -- and individual employee's investments -- meet IRS requirements. All of that changed with the enactment of the new regulations, which dramatically increase the districts' oversight responsibilities.


The good news is the five companies selected to participate in the Model Plan have demonstrated to IBC that their plans satisfy all of the requirements of the law. Since we have already done the work for you with every assurance the plans available to educators are financially sound.