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Governmental Entity/501(c)(3) Exemption - 401(k) Plan


Guest Madalyn Clark
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Just to clarify, a state or local governmental entity cannot establish a 401(k) plan if it doesn't already have one. (Figuring out whether it already has one can be difficult, since the definition of employer in a governmental context is often unclear, but this is the general rule.) This rule is not affected by whether the state or local governmental entity is also a 501©(3).

Employee benefits legal resource site

The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.

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