403(b) Plans
PLEASE CHOOSE A COLLEGE
All 501(.c)(3) nonprofit organizations - along with public school systems, community colleges, and universities - are eligible to sponsor 403(b) retirement savings programs. These programs can differ significantly from their more familiar corporate counterpart - the 401(k) plan. Both plans are named after the specific Internal Revenue Service code section that contains the plan regulations.
Since inception, Verity Investments, Inc. has placed considerable emphasis on effectively servicing this category of employers. Over the years, the IRS has also taken increased notice of these plans, making effective compliance programs a very critical concern for plan sponsors.
In colleges, universities and public school systems these plans are typically voluntary participation plans, funded entirely through elective employee contributions. In many cases, there are multiple companies offering investment products through payroll slots, but little overall guidance to help employees select the investments that fit their individual needs.
Typically, for an educational institution to offer a wide selection of investment companies, the employer has to also administer a large number of payroll slots and coordinate information distribution to employees from a large number of separate sources - without making any specific recommendations in favor of any single provider.
At Verity, we offer comprehensive services to employers and employees with the ease of a single administrative payroll slot. To receive more information on reviewing the selection of investment offerings at your employer, please e-mail your inquiry to: education@verityinvest.com .