Barbara Hanis

Does anyone know where I would find Florida State Law that pertains to 403(b) Plans?

Thanks so much for your response and such good information. I will seek out the IRS 517. I appreciate you taking the time to share.

We had a call from a self-employed pastor who does not draw a regular salary for his services, and does ministerial services for multiple congregations. He received a 1099, but one church would like to contribute $100 per month to a 403b(7) custodial account. Would that be acceptable or must it be a 403b(9)?????

Great, thank you for the confirmation, I appreciate it!

I know this is true for 401(k) and 403(b) plans , but can someone let me know if there could be (2) plan providers for a church plan? And also: Are only conduit IRA's allowed into the plan?

Church plans seem to be such a gray area, I am glad to hear of your track record of no church willingly you electing ERISA. We do have several plans which are NON-ERISA who are 501(c)(3) organizations Not sure what troubles or flags to keep an eye out for? So other than a church requesting to be an ERISA plan (in writing) we can consider church plans to be Non-ERISA whether they have er contributions or not. TY, BH

Thank you so much ! that helps

I continue to read that Church plans are exempt under ERISA, just to clarify, does that change once the employer (the church) makes contributions? I understand that churchs have the option of ERISA/NON-ERISA choices.