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403B 401K

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  • Peyton Irby MSPeyton Irby MS 139 Posts
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    It is hard to say without knowing all of the questions the employing entity or the employees may have. 403B for tax exempt entities and 401k (available to all employers) are similar vehicles for employee savings. Depending on the plan language, investment options for the accounts could be curtailed in a 403B. We suggest that a benefit plan specialist firm be consulted.

    Peyton Irby
    Editor, Mississippi Employment Law Letter
    Watkins Ludlam Winter & Stennis, P.A.
    (601) 949-4810
    [email]pirby@watkinsludlam.com[/email]
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  • lrobblrobb 67 Posts
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    Currently have a 403B in one of our hospitals and are considering changing to a 401K which is what we have in our other 4 companies. I understand that the reporting advantages are disapearing in 08 and audits will be required for 403B in 09. Are there any advantages for keeping the 403B.
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  • stilldazedstilldazed 640 Posts
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    If a quick assessment is all you are looking for, review IRS Code 403(b) & 401(k) side by side, consider whether your employer is public or private, and consider what a change will mean for your company's administrative burden and your employees' benefits.

    best wishes
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