SECTION 3. USE OF MODEL PLAN

LANGUAGE BY PUBLIC SCHOOLS

.01 Any public school employer with respect to its employees performing services for it, to the extent provided, may comply with the written plan requirements of the 2007 regulations by adopting the model provision(s) contained in the Appendix to this revenue procedure. The model language has been prepared to take into account the general requirement that a § 403(b) plan include all the material terms and conditions for benefits under the plan. For example, the model language does not incorporate the applicable legal requirements by reference, but instead describes them in a manner intended to enable the plan administrator to implement the plan provisions on the basis of the model language to the extent feasible.

.02 The 2007 regulations provide that a § 403(b) plan, including one established by a public school employer, may contain certain optional features not required to satisfy § 403(b), such as in-service distributions from rollover accounts, distributions

2007–51 I.R.B. 1185 December 17, 2007

same status as a private letter ruling which provides that the written form of the plan satisfies § 403(b). However, if a public school employer adopts the entire model plan language, the § 403(b) written plan must also be operated in accordance with that language, from and after the effective date of adoption, and must continue to satisfy in both form and operation all other requirements of § 403(b) in order for the plan to maintain its § 403(b) status.