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Showing posts from December, 2016

4 Questions Plan Sponsors Should Ask to Understand the Similarities and Differences Between 401(k) and 403(b) Plans

1. Which employers can offer a 403(b) plan? Public education organizations such as public elementary and high schools, state colleges and universities, and boards of education. 501(c)(3) nonprofit organizations such as private schools, research facilities, private hospitals, charities, social welfare agencies, healthcare organizations, and religious institutions. Grandfathered Indian tribal governments. Certain religious ministers of a church or related religious organizations. 2. Which employers can offer a 401(k) plan? Almost any type of company may offer a 401(k) plan. Most private, for-profit companies are eligible.  Many tax-exempt, non-profit organizations have a choice between sponsoring a 401(k), a 403(b), or both.