The Treasury and IRS have issued new 403(b) proposed and temporary regulations as announced here in a press release. Proposed regulations are here and temporary regulations are here. According to the press release, the regulations “provide the first comprehensive guidance on section 403(b) arrangements in over 40 years” and provide guidance on statutory changes that occurred during the 40 years and answer issues that were not previously addressed in formal guidance. The proposed regulations will not go into effect until taxable years beginning after 2005.
(Better make your comments here as to any changes you would like to see. Who knows–an opportunity to comment on 403(b) rules might not come around for another 40 years 🙂