403(b) Plans

403(b) Services As a pioneer in salary reduction plans for not-for-profit organizations, Rogers & Associates brings to your organization an unprecedented level of expertise and service in 403(b) Plans.     Rogers & Associates designs 403(b) Plans that are much more than just payroll reductions.  We provide a bundled package that not only meets your objectives and provides your employees with opportunities to become investors, but also fulfills your responsibilities as a fiduciary.   Using the latest in web technology, our interactive web system provides data 24-7, not just to participants, but sponsors as well.   Sponsors have the ability to monitor the plan’s assets, view investment and plan performance, track transactions as well as retrieve historical data.  Reports on demand, educational data, enrollment forms, loan applications and historical benefit statements are among the many items that a Sponsor will be able to access.    Visit our account login and take a test drive by entering Account ID 100200300 and password 123456.   Participants not only make election changes and fund transfers and/or fund realignments through our system, but can change beneficiaries, view rates of return on their individual accounts, obtain fund performance as well as view or print all historical transactions by fund and source.  Other features include reports on demand, access to historical benefit statements and various forms in addition to loan modeling and loan request capability.   Whether your desire is to provide a stand-alone 403(b), or a safe harbor 403(b), our staff of consultants will work closely with you to design the best 403(b) in America for your organization.

403(b) Defined A 403(b) Plan is a type of deferred compensation arrangement that is only available for employees of organizations that are tax-exempt under Section 501(c)(3) and for employees of public educational systems.  Contributions are invested in either annuity contracts or custodial accounts.  Salary deferral contributions must be available to all employees who elect to defer at least $200, except for some very limited exceptions.  Salary deferral contribution limits are the same as those for 401(k) Plans.  For 2004, those under age 50 may defer up to $13,000 and those who are age 50 or older during 2004 may defer up to $16,000.  Long service employees of certain types of organizations may be able to contribute an additional amount under the 15 Year Rule.  Salary deferral contribution amounts are not subject to discrimination testing.   A 403(b) Plan can also provide for employer non-elective and matching contributions.  The employer contributions are subject to the same coverage and discrimination tests that apply under a 401(k) Plan.   Distributions from a 403(b) Plan can only occur after age 59-1/2, after separation from service, or upon the employee’s death, disability or financial hardship.