“I work for a denominational church plan sponsor who maintains a 403(b) plan. We have a clergy member who has NOT taken a vow of poverty, but who has another job for which he receives a salary, in addition to being a pastor at one of our churches.
Tag: 403(b) plan
The mutual-fund based program also offers an in-plan retirement income option and access to 3(38) fiduciary services.
Participants allege the company should have allowed a single recordkeeper to service its traditional DC plan and its 403(b) plan—and that it permitted excessive fees by paying for distinct administrative services for each.