Guest itrade4u2 Posted July 2, 2001 Posted July 2, 2001 Can anyone tell me if a non-profit utility company that is owned by a city government can start a 401k? I think that they can do a 457, but they would prefer to do a 401k.
Carol V. Calhoun Posted July 15, 2001 Posted July 15, 2001 Probably not. In most instances, such an entity would be treated as a governmental plan. Thus, unless that entity, or another entity treated as part of the same "employer" for federal tax purposes, had a grandfathered 401(k) plan, the entity could not start a 401(k) plan. Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
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