If you are a sponsor of a 403(b) Plan (aka Tax-Sheltered Annuity or Tax-Deferred Annuity), you are probably aware of the December 31, 2008 deadline to bring your plan into compliance with the Regulation issued by the IRS last year. If you miss this deadline, then, effective January 1, your ?tax sheltered annuities? will no longer be tax sheltered, meaning that your employees will no longer be able to make contributions on a pre-tax basis, and, more importantly, will be taxed on the value of their accounts.

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