Hey Joel! – Answers from a recovering former practicing ERISA attorney
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by RPAG’s in-house former practicing ERISA attorney.
–Contemplating in Kansas
Contemplate no more! A 501(c)(3) organization is a nonprofit organization and can sponsor either a 401(k) plan or a 403(b) plan. In 1996, the law changed allowing nonprofit organizations to choose either the 401(k) or 403(b) plan for their employees. Here are some key differences between the two types of plans:
Hopefully that sheds some light on the differences between a 401(k) plan and a 403(b) plan.
The ERISA Wizard,
As a former practicing ERISA attorney Joel works to ensure that plan sponsors stay fully informed on all legislative and regulatory matters. Joel earned his Bachelor of Arts from Tufts University and his Juris Doctor from Washington College of Law at the American University.
*If you have a question for Joel, please send it to your plan advisor. Maybe it will be featured in a future issue!