403B plan documents ?

[rfahey]

I have a few very small 501C3 organizations ( not schools ) that have a couple of 403B accounts in each ( salary deferrals only ) - very simple.

I understand that they will need a plan document by Jan 1. Are there documents available from the fund companies or the IRS ?

If not are there TPA's that could provide a basic document for a low cost ?

THanks

[J Simmons]

From the IRS, non-ERISA model document provisions (designed for public schools) are attached to Rev Proc 2007-71.

[Peanut Butter Man]

I have a few very small 501C3 organizations ( not schools ) that have a couple of 403B accounts in each ( salary deferrals only ) - very simple.

I understand that they will need a plan document by Jan 1. Are there documents available from the fund companies or the IRS ?

If not are there TPA's that could provide a basic document for a low cost ?

THanks

There are a number of plan document companies which sell 403b plan documents. Both TPAs and the fund companies can explain what the companies offer and what they charge. You will also need to know about summary plan descriptions and forms which you will need along with the plan documents, such as beneficiary forms.

The IRS created a model 403b plan document to be used by public schools. Since your organizations are not schools, you will probably not be able to use that document. If you want to take a look at it, just google for it or check the IRS' website.

[Guest benji]

I have a few very small 501C3 organizations ( not schools ) that have a couple of 403B accounts in each ( salary deferrals only ) - very simple.

I understand that they will need a plan document by Jan 1. Are there documents available from the fund companies or the IRS ?

If not are there TPA's that could provide a basic document for a low cost ?

THanks

]

Try Mckay Hochman, you can buy docs per plan. 518.862.7274

[TLGeer]

I offer plan documents on a per plan basis. I view the model plan as a problem, because it simply does not take into account loads, penalties, withdrawal restrictions and the like. It's anguage could leave the employer on the hook for these in some circumstances.

Also, if you are trying to avoid ERISA, there are decisions (hardships, loans, distributions generally) that can cause the plan to lose the ERISA exemption.

If you would like a quick run-down, contact me off-line.