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Dear Reader:

Update: 90-24 Transfers New Law!!!

Summary:On July 23, 2007, the IRS released final 403( regulations. The Regulations appear to end 403( to 403( exchanges unless the issuer of the new 403( has a written agreement in place with the employer. Although the final regulations are not generally effective until January 1, 2009, the Treasury has issued guidance providing that exchanges pursuant to Revenue Ruling 90-24 must be completed (i.e. contract must be issued) by September 24, 2007.

Background 403( plans are retirement plans offered by governmental and non-profit organizations, typically school districts and charitable organizations. Initially, the employee and/or their employer make 403( contributions to investments offered by the employer under the 403( plan. In the past, if the employee wanted investment options other than those available under the employer's 403( plan, the employee could transfer a portion of their 403( to any other investment that offered 403( plans. These in-service transfers were called 90-24 transfers after Revenue Ruling 90-24 which allowed them.

The future of 90-24 transfers.If you have a 403( at your job or if either your friends or family members maintain a 403( annuity, it may be possible to continue to accept transfers as long as the issuer of the new 403( has a written agreement in place with the employer.

Your time is greatly appreciated.

With All Best WishesYour team at The FreedomTree Financial Group info@... Call us toll-free 1.877.369.1889

Please note that while the new IRS regulations restrict 90-24 transfers, 403( participants can still roll over their 403( to an IRA when they have a distributable event such as reaching age 59 ½ or severing employment.

Purchasing an annuity within a tax-qualified plan results in no additional tax deferral. All annuity features, risks, and costs should be considered prior to purchasing an annuity within a qualified plan.This e-mail is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it its not however, intended to provide specific tax legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that The FreedomTree Financial Group, its affiliated companies, and their representatives do not give legal or tax advice. Please consult a tax advisor or attorney.

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