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Erisa Requirements

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If an employer is making matching contributions into a 403b/TSA on behalf of employees, is the employer required to have compliance testing, government filings, tax reporting, admin and recordkeeping services, etc. that would typically be handled by a TPA for small organizations?

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It depends on the nature of the employer. If you are a government employer you are exempt from the compliance testing, if you are a non-profit you are not exempt. In all plans admin and recordkeeping apply. A TPA could handle the testing that needs to be done, that is typically the job they are charged to do.

 

ScottyD

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Guest Chuck Yanikoski

PS: Church organizations are also permitted to opt out of ERISA. Most do....

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