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non-profit city utility companies and 401Ks


Guest itrade4u2

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Guest itrade4u2
Posted

Can anyone tell me if a non-profit utility company (owned by a municipality) start a 401k? I think that they can do a 457, but am unsure about a 401k. I've asked everyone that I can think of and nobody seems to know for sure.

Guest consultant
Posted

If it is governement/municipal owned, they are stuck with the 457 option. The law was changed then repealed and to my knowledge, the City of Dallas is the only municipality I am aware of which has a 401(k) plan.

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