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401(k) vs 403(b): Which Is the Best Choice for My Non-Profit?

DWC 06/23/20
Facts As the director of a not-for-profit organization, I’m looking at retirement plan options for our employees. The fiscal year ends June 30th and I’d love to implement something to benefit our employees beginning with the new year.
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The 2020 Retirement Plan Contribution Limits

DWC 11/6/19
The IRS has released the 2020 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.
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The 2019 Retirement Plan Contribution Limits

DWC 11/1/18
The IRS has released the 2019 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.
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Decoding the Alphabet Soup: What's With All the Acronyms? | Part 1

DWC 07/24/18
Facts People in the retirement plan business sure do like their acronyms.  All these letters get thrown around, and I do not know what half of them mean.
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The 2018 Retirement Plan Contribution Limits Are Here

DWC 10/19/17
The IRS has released the 2018 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.
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Accidents Will Happen

Adam C. Pozek 02/24/13
If you’ve spent any time working with retirement plans, you know how complicated they can be.  It seems like every rule has an exception and an exception to that exception.  It is no wonder that accidents occasionally happen - and correction is required - despite everyone’s best efforts to follow the rules.
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Your Tax-Exempt Status Has Just Been Revoked!

Adam C. Pozek 04/19/11
It’s funny how the human brain (or maybe it’s just my brain) forms associations with words or phrases.  Whenever I hear the word “revoked,” I immediately think of a scene from one of the Lethal Weapon movies.  The bad guy had been using his diplomatic immunity to get away with all sorts of nefarious deeds.  At the end of the movie as he lay ...
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403(b) Plan Termination: Fact or Fiction?

Adam C. Pozek 02/22/11
Over the last several years, the answer has been a little of both.  Beginning with the 2009 effective date of the IRS overhaul to the 403(b) regulations, it was establised that 403(b) plans could, indeed, be terminated.  However, that legal fact has been somewhat of a practical fiction for plans funded by individual contracts.  The reason being ...
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In Search of the Elusive Non-ERISA 403(b)

Adam C. Pozek 02/21/10
Crikey!  We’ve just discovered the rare non-ERISA 403(b) plan meandering along, oblivious to such details as filing Form 5500 or worrying about fiduciary responsibility.  Wait…could it be this harmless creature only offers investments from a single vendor?  Danger! Danger! Danger!
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Rethinking Participant Direction of 401(k) Investments

Adam C. Pozek 01/25/10
As an industry, we have spent a great deal of time over the last 2 years discussing issues like investment advice, default investments and fiduciary responsibility ostensibly for the purpose of improving retirement savings for employees.  While these are important issues, we have been avoiding the elephant in the room – participants simply aren’t ...
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.