ldr Posted August 6, 2020 Report Share Posted August 6, 2020 Good morning, this falls under the "please don't shoot the messenger" heading. A prospect for a non-ERISA 403(b) Plan, which is a church, is asking whether they can take advantage of the "tax credit under the Secure Act". We don't see how this could benefit an entity that does not pay any taxes in the first place, but we were still asked to research the question. Maybe we are missing something. Thoughts? Thank you. Link to comment Share on other sites More sharing options...
Bill Presson Posted August 6, 2020 Report Share Posted August 6, 2020 I don't think you're missing anything. And it's silly that they asked you to research the question. William C. Presson, ERPA, QPA, QKAbill.presson@gmail.com C 205.994.4070Connect on LinkedIn Link to comment Share on other sites More sharing options...
ldr Posted August 6, 2020 Author Report Share Posted August 6, 2020 Thank you, Bill. Bill Presson 1 Link to comment Share on other sites More sharing options...
Patricia Neal Jensen Posted August 10, 2020 Report Share Posted August 10, 2020 Agree with you and Bill Presson. BTW, Non-Electing Church 403(b) plans are different than Non-ERISA 403(b) plans. If you accept this client, and are sure it is a "church," be sure to use a plan document format intended for church plans and not one intended only for a Non-ERISA 403(b) sponsored by a NonProfit which is not a church. A good thing to check would be a provision for employer contributions. Non-Electing (which translates into Non-ERISA) Church plan documents have employer contribution provisions in them and a document for a NonProfit sponsoring a Non-ERISA 403(b) does not contain employer contribution options. Have a great day! PNJ Bill Presson 1 Patricia Neal Jensen, JD Vice President and Nonprofit Practice Leader |Future Plan, an Ascensus Company 21031 Ventura Blvd., 12th Floor Woodland Hills, CA 91364 E patricia.jensen@futureplan.com P 949-325-6727 Link to comment Share on other sites More sharing options...
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