Here on the ADMIN blog, we have a number of discussions surrounding 403(b) Plans. The reason for this is because this is our niche. While we do work on other retirement plan types, 403(b) is our ‘sweet spot’ and is where a lot of our expertise lies. With this being said, we wanted to share a little more about 403(b) plans and who actually qualifies for this type of Plan.
Part Two of the series looks into who qualifies for a 403(b) Plan and some of the rules surrounding each type of qualified organization.
As we mentioned in Part One, there are four different groups of organizations that can hold a 403(b) retirement plan: public education, religious organizations, local governments, and non-profits who file as a 501(c)(3). Each of these groups have the option of a 403(b) Plan; however, the rules and regulations surround ERISA and the overall plan design can vary. Let’s take a look at each type to better understand who qualifies for a 403(b) Plan.
Want to learn more about what organizations can use a 403(b) Plan. Reach out to our Sales Manager, Greg Verna at 856-382-3501 and be sure to check out Part One of the 403(b) Series here.