The Internal Revenue Service (“IRS”) has been talking about consolidating its various preapproved plan programs into a single platform, taking the best of the various options, to develop a more comprehensive and consistent program. Well, newly issued Revenue Procedure 2023-37 does just that, and is a welcomed development for pre-approved plan providers of defined contribution (“DC”) plans, defined benefit (DB) plans, and 403(b) plans.
In this Journal of Pension Benefits article, “Combined Pre-Approved Plan Program Is Here,” Groom principal Elizabeth Thomas Dold covers the consolidation of pre-approved plan programs by the IRS and how the changes may effect plan sponsors and providers.
To read the article, click here.
