My employer (non profit) has asked me to investigate the practicality of setting up a 403b plan for our employees. There will be employee contributions, employer match and employer discretionary contributions. I don't know what to do first. We have no existing relationships with a recordkeeper or any agents or brokers. We have very limited funds to pay any administration fees. I literally do not know what to do first.
What are the steps involved in starting a plan? What type of agent, broker, third party administrator, financial planner do I contact to get this plan started? How do I evaluate whether they should be given our business? And once a plan is started, how do our employees learn of an advisor or fund company from which to direct their investments? Are they just on their own with the phone book?
Any guidance would be graciously accepted.What are the steps to setting up a 403b and what specialists do you need to retain?
I work for a financial firm called Primerica and if you need help with this you can call 630 368-1888 and ask for Roy in the office. Tell him you got this off the internet and Pat told you to call. We can help you with all your questions on the 403b and help you and your employees out as well. If Roy isn't in the office ask for Cora as she is out V. P.
