Since the IRS final regulations for 403(b) plans took effect in 2009, the retirement plans for tax-exempt organizations are starting to look more like 401(k) plans. Thats spurred non-profits to turn to their retirement adviser and question whether or not to stay with their 403(b), says Chad Burch, an adviser at Fort Wayne, Ind.-based Phillips Financial.
Plan sponsors are taking their responsibilities more seriously than in the past, Burch says, and are turning to advisers for guidance on plan administration as well as other inquires. While retirement-related questions can be complicated, theres almost always an answer, he says, which is something that cant be said of health care.
