SECTION 2. BACKGROUND AND

GENERAL INFORMATION

.01 Section 403(b) applies to contributions made for employees who are performing services for a public school of a

December 17, 2007 1184 2007–51 I.R.B.

for financial hardships, loans, contract exchanges, and plan to plan transfers. If optional provisions are used, the optional provisions must meet, in both form and operation, the relevant requirements under the Code and the 2007 regulations, as well as operate in accordance with the terms of the plan. If a public school employer adopts one or more of these optional model plan language provisions for its § 403(b) plan, the form of the plan will be treated as meeting the requirements under § 403(b) with respect to those provisions.