D & H
The annuity industry is not happy about the proposed 403(b) regulations and they are making themselves heard. In June of this year their lobbyist send a letter to treasury requesting a new delayed effective date and special grandfathering rules that appear to benefit the industry.
It looks like they got their first wish, the effective date has been pushed to January 1st, 2008. However there has not been any talk about a grandfathering clause.
Scott Dauenhauer, CFP, MSFP, AIF