403(b)(9)

Are you referring to 403(b)(7) or 403(b)(9)? There is a difference in the account investment area. Refresh my memory, what is ACP testing?

Thanks for your reply. I was looking for confirmation of my own opinion. There is a written plan since the Trust will be holding brokerage accounts, and physical assets as well, in some cases. Your are correct that 403(b) plans do not need Trustees, but 403(b)(9) is a unique aminal. Retirement Income Account Plans need aTrust and a Trustee. In this case it operates as a QRP, but is not subject to ERISA. There is a non-profit corporation which is an Association of Churches. It controls another non-profit corporation which, by State Law, may function as a Church Benefits Board and is authorized to offer, fund, and administer 403(b)(9) church plans. It may also serve as Trustee. The State Banking Commission does not regulate the Trust or Trustee since it is authorized by a specific State Law. Again, thanks for your confirmation.

May funding investments in a 403(b)(9) plan consist of a brokerage account holding assets other than annuities and mutual funds, such as stocks, bonds, ETF's, Partnerships, etc.? May the Trust hold real estate, collectables, etc., which would be owned and custodied by the Trust, FBO the Participant?

Where do you see that self-employed ministers can only participate in 403(b)(9) plans? My understanding is that they may participate in any plan. My opinion is that Reg.1.409(b)-9 is specifically for churches, church associations, and church conventions, but that does not exclude them from other types of exempt plans. The main function of 1.403(b)-9 is that it allows a broader range of permissible investments for the participants. I don't see that you have a problem. The church has a plan. The minister can participate. Please correct me with citations if I'm wrong. I formed an association of churches, and created a church benefits board, to provide retirement plans for churches. I would be very interested in knowing if I'm doing something wrong.

Does an Employer contribution to a 403(b)(9) retirement income account plan cause a church plan to be suject to discrimination testing?