Guest slanq Posted July 23, 2003 Share Posted July 23, 2003 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 More sharing options...
mbozek Posted July 23, 2003 Share Posted July 23, 2003 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 More sharing options...
WDIK Posted July 23, 2003 Share Posted July 23, 2003 Question 175 of the "Who's the Employer?" column on BenefitsLink deals with staffing firms and comes to a different conculsion. ...but then again, What Do I Know? Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now