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ERISA vs Non Erisa Plan


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I got a call from a 501c3 orginaztion who has had a 403B with Mutual of America ( employee deferals only ) for many years. - About 30 employees out of 50 participate.

They are getting mixed recommendations about whether to stay as a non erisa plan or change to an erisa plan.

Can anyone give some pros and cons on each ?

Thanks

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