Christine Roberts Posted December 1, 1999 Posted December 1, 1999 Who out there is familiar with benefits issues for federal credit union employees? ------------------
david rigby Posted December 2, 1999 Posted December 2, 1999 somewhat. do you have specific areas or questions? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
davef Posted December 2, 1999 Posted December 2, 1999 Employees of federal credit unions should be treated the same as anyone else who is employed by a tax-exempt entity. They can be covered under any type of qualified plan (prior to '97 they couldn't have a 401(k) plan unless they were grandfathered under the pre-TRA'86 rules). Nonqualified benefits have to fall under 457 rules. The FCU is not eligible to have a 403(b) TSA program because it is not a 501©(3) organization. They also cannot have a SARSEP because they are tax-exempt. Hope this helps.
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