403(b)/457 Plans
SECTION 403(b) PLAN
A Section 403(b) plan is a deferred compensation retirement program that is offered to employees of a tax-exempt organization under IRC Section 501(c)(3) or employees of certain educational organizations. A 403(b) plan is similar to a 401(k) plan in many respects; however, a 403(b) is subject to reduced non-discrimination testing and DOL/IRS reporting.
SECTION 457 PLAN
A Section 457 plan is a “nonqualified” deferred compensation retirement program that is maintained by a State, a political subdivision of a State, an agency or instrumentality of a State, or a tax-exempt organization.
InWest offers turnkey plan design and compliance administration for both 403(b) and 457 retirement plans. Please contact us for more information.
