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The Wagner Law Group

The Wagner Law Group is a nationally recognized practice in the areas of ERISA and employee benefits, estate planning, employment, labor and human resources and  investment management.

 

Established in 1996, The Wagner Law Group is dedicated to the highest standards of integrity, excellence and thought leadership and is considered to be amongst the nation's premier ERISA and employee benefits law firms. The firm has six offices across the country, providing unparalleled legal advice to its clients, including large, small and nonprofit corporations as well as individuals and government entities worldwide. The Wagner Law Group's 27 attorneys, senior benefits consultant and three paralegals combine many years of experience in their fields of practice with a variety of backgrounds. Seven of the attorneys are AV-rated by Martindale-Hubbell and six are Fellows of the American College of Employee Benefits Counsel, an invitation-only organization of nationally recognized employee benefits lawyers.  Seven of the firm's attorneys have been named to the prestigious Super Lawyers list for 2016, which highlights outstanding lawyers based on a rigorous selection process.

 

 

 

Contact Info

The Wagner Law Group

 

  Integrity | Excellence

  

Boston 

Tel: (617) 357-5200 

Fax: (617) 357-5250 

99 Summer Street 

13th Floor

Boston, MA 02110

 

Washington, D.C.

Tel: (202) 969-2800

 

Fax: (202) 969-2568

 800 Connecticut Avenue, N.W.

Suite 810

Washington, D.C. 20006

  

Palm Beach Gardens 

Tel: (561) 293-3590
Fax: (561) 293-3591
7108 Fairway Drive
Suite 125
Palm Beach Gardens, FL 33418

   

Tampa

Tel: (813) 603-2959

Fax: (813) 603-2961

101 East Kennedy Boulevard

Suite 2140
Tampa, FL  33602 

  

San Francisco

Tel: (415) 625-0002

Fax: (415) 358-8300

300 Montgomery Street

Suite 600

San Francisco, CA 94104

  

St. Louis

Tel: (314) 236-0065

Fax: (314) 236-5743
100 South 4th Street, Suite 550
St. Louis, MO  63102 

 

 

www.wagnerlawgroup.com

 

 

 

 

The Wagner Law Group Receives

IRS Approval of its Volume Submitter 403(b) Plan

 

 

April 27, 2017

 

 

 

The Wagner Law Group has again broken new ground by receiving IRS approval of its volume submitter 403(b) plan. The IRS's new pre-approved 403(b) plan program represents the first opportunity for tax-exempt 403(b) plan sponsors, such as charitable and educational organizations, public schools, churches and church-related organizations, to bring certainty of compliance to the their 403(b) arrangements. The IRS approval of The Wagner Law Group's 403(b) volume submitter plan bolsters the firm's position at the forefront of the 403(b) plan document and compliance realm.

  

A volume submitter plan is a pre-approved plan that has an IRS advisory letter on which adopters of the plan can rely with respect to the form of the plan, including various options (as described below) that have been subject to IRS review. Since the IRS has never issued determination letters for 403(b) plans (as it has for tax-qualified retirement plans), The Wagner Law Group's new pre-approved volume submitter 403(b) plan represents an excellent opportunity for sponsors of 403(b) plans to have their plan language approved in advance.

  

By adopting a volume submitter plan before April 2020, the IRS deadline for bringing 403(b) plans into compliance with relevant IRS regulations that became effective in 2009, a plan sponsor may retroactively correct defects in its plan document back to January 1, 2010 (or, if later, the adoption date of the 403(b) plan). Eligible employers that failed to adopt a written 403(b) plan document by the end of 2009 now have a unique chance to easily redress that failure, by adopting The Wagner Law Group's pre-approved 403(b) plan and submitting it to the IRS under the 403(b) Voluntary Correction Program (VCP), to receive a clean bill of health from the IRS.

           

The Wagner Law Group's volume submitter 403(b) plan has flexible design options to meet the needs of most 403(b) plan sponsors, including the following available features:

 

  • Pre- and post-tax elective deferrals, and employee contributions;

 

  • Automatic enrollment including QACAs and EACAs;

 

  • Various eligibility and service-counting options;

 

  • Employer matching and discretionary contributions, with several allocation options;

 

  • Safe harbor matching provisions;

 

  • Hardship withdrawal and loan provisions; and

 

  • Various vesting alternatives.           

 

For more information about our Volume Submitter 403(b) Plan, please contact Christopher Sowden.

 

 

 

This Newsletter is protected by copyright. Material appearing herein may be reproduced with appropriate credit.

 

This Newsletter is provided for information purposes by The Wagner Law Group to clients and others who may be interested in the subject matter, and may not be relied upon as specific legal advice.  This material is not to be construed as legal advice or legal opinions on specific facts. Under the Rules of the Supreme Judicial Court of Massachusetts, this material may be considered advertising.