Jump to content
Sign in to follow this  
mcox

Eligibility

Recommended Posts

My wife works for the Head Start program which is a federally funded pre school program for low income families. They are a not for profit org. Does anyone know if they would qualify for 403's?

Share this post


Link to post
Share on other sites

Persons who are eligible to contribute to a 403(b) include public school teachers and employees of organizations that are exempt from tax under section 501©(3) of the Internal Revenue Code. 501©(3) organizations are those organized and operated for religous, charitable, scientific, literary or educational purposes, or for the prevention of cruelty to children or animals. Since the Head Start program is operated exclusively for educational purposes, I would think that they would be considered a 501©(3) organization.

 

However, to be absolutely certain, your spouse could check with the payroll or finance area where she works. In order to be tax exempt, an organization needs to file for a letter of determination with the IRS. When that letter is issued, it tells which section of the Code under which tax exempt status is granted. The accountant (or whoever files their income tax return) will know about this. Keep in mind that it must be a 501©(3) organization in order to maintain a 403(b) program.

 

Hope this is of some benefit to you. Good luck.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...