According to SunGard Relius, "Prior to the issuance of the new final 403(b) regulations, Code Section 403(b) did not provide for plan termination as a distributable event...For plans subject to ERISA, it forced the employer to continue complying with the reporting and disclosure requirements until all participants incurred a distributable event (e.g., termination of employment). One of the more positive aspects of the new 403(b) regulations was the inclusion of a provision which treats plan termination as a distributable event." Details are provided in the
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