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In December of 2009, just a few weeks before the effective date of the final 403(b) regulations, and long after many 403(b) plans had fully complied with the regulations, the IRS announced that it was delaying the effective date for an additional year.
The IRS announced:
The IRS is extending the deadline for plan sponsors to adopt new written plans or amend existing plans to satisfy the requirement of the final 403(b) regulations because of difficulties expressed by numerous plan administrators in meeting the current deadline of January 1, 2009. This extension will give plan sponsors additional time to put their plan documents in place.
The delay comes with the following conditions:
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