1. Discuss the key differences between 403(b) and 401(k) plans.
2. Analyze the application of those key differences in choosing the best type of plan for your organization.
3. Compare and contrast the various plan design provisions available under 401(k)
This session will highlight the key differences between 401(k) and 403(b) plans in the context of a plan sponsor. We will explore the concept of universal availability and its applicability to 403(b) plans, including its impact on eligibility, participant counts, and the audit requirement. We will compare/contrast provisions between the plans, including the types of investments allowed, nondiscrimination testing requirements, statutory exemptions, and the overall plan design. We will also provide practical examples that favor 401(k) versus 403(b) and vice versa.