403b PLAN RISK ASSESSMENT TEST

Is your 403b Plan IRS compliant? Take this test to find out.

Is your Charter a 501c3 Public School?

Y or N

Has your Charter adopted, with Board approval, a written 403b Plan?

Y or N

Are the Plan's operations based on the terms of your Plan?

Y or N

Are all employees given the opportunity to participate in your Plan?

Y or N

Are you auditing total contributions to the IRS limits for each tax year?

Y or N

Have you sent out to all employees the Universal Notification letter?

Y or N

Does your Plan allow & review the 15 year catch-up?

Y or N

Are the Plan's operations based on the terms of your Plan.

Y or N

Do you test for maximum contribution limits each tax year?

Y or N

Do you allow & review hardship distributions per Plan requirements?

Y or N

Do you allow loans and enforce loan repayment and maximum loan limits?

Y or N

Do you allow for the 5 year post serverance method for non-electives?

Y or N