Jump to content

403(b) and 401k


Guest slanq

Recommended Posts

Guest slanq

Can an employer have two retirement plans. We are a small non-profit that currently has a 403(b). We recently entered into an employee leasing arrangement that offers a 401k. The employee leasing company has a strict company match that is not the same as our more generous match. Can employee's still have contributions taken from their pay via the leasing company and put into the 401k while at the same time contributing the company match into the old 403(b)?

Link to comment
Share on other sites

While an employer can have more than one retirement plan, an employer can only provide retirement benefits for compensation earned by the employees. If the ER has transferred employees to a leasing company the employees will be paid by the leasing co. not the employer and will be eligibile for benefits from the leasing co.

mjb

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...