401k v. 403b for 501c3 organizations
Are there any significant advantages to implementing a 401k/profit sharing plan instead of a 403b for a 501c3 organization? Since the organizations are not for profit, how does a profit sharing contribution work?
Are there any significant advantages to implementing a 401k/profit sharing plan instead of a 403b for a 501c3 organization? Since the organizations are not for profit, how does a profit sharing contribution work?
Permalink Submitted by Anonymous (not verified) on Tue, 2009-11-24 20:03
Yes, in the old days a 403b was clearly better for several reasons, in today’s world you’re much better off using a 401k for numerous reasons, feel free to contact me off list if you’d like to discuss (757-457-8440).
Permalink Submitted by Joseph Arsenault on Wed, 2009-12-02 14:55
Here is a good article that covers this.
http://www.journalofaccountancy.com/Issues/2009/Aug/20091547
-j