Employment Law

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What is a 403b Plan?

A 403b plan is a retirement plan for firm workers of community schools, tax-exempt associations and firm ministers. Usually, retirement earnings accounts could invest in any pensions or joint finances, also recognized as a tax-sheltered annuity (TSA) plan. The features of a 403b plan are comparable to those of a 401k plan. Workers might make pay deferral contributions that are typically restricted by regulatory caps. Personal accounts in a 403b plan could be any of the following kind: An annuity contract, custodial account, and a retirement income account.

Can a nonprofit organization provide fringe benefits (health, dental, etc) to an independent contractor, separate from the hourly wage?

Independent contractors do not receive wages, they are paid per contract. As far as fringe benefits go, can offer whatever they want as it is a contract.

How would a withdrawal from a 403b plan affect unemployment compensation?

If all of the funds in the account were contributed by the employer, the state will reduce your unemployment benefits by the amount withdrawn. If you and your employer both contributed to the plan, then the state will reduce your benefits by half the amount withdrawn.

How to get a letter of determination on 403b from a former employer to file bankruptcy when they are delaying sending it?

There is no reasonable time under the law for them to respond to your request, but the courts hold reasonable time to be 30 days. You have to call the plan administrator to see if you can get the letter from them, since the plan administrator can give you what you need. You should also direct a copy of the letters making the request to the plan administrator as well.

Are assets protected when rolling a 403b over into an IRA?

Both of the 403(b) and IRA accounts, (Traditional and Roth) are exempt from garnishment in bankruptcy. The only difference is that IRA exempt assets are limited at $1,171,650. Bankruptcy Code 522(b)(3)(C).

How to get back pay from a non-profit organization after resigning?

Case Details: This was budgeted, expensed and unpaid salary.

It is a violation of the FL Wage Act and the federal Fair Labor Standards Act for failure to pay wages. Wages are due on payday as scheduled; and, if not made, the employee is entitled to file a wage claim with the Department of Labor’s wage and hour division. The DOL will generally pursue the employer (presuming you were an actual employee and not an independent contractor) for the wages, fines and penalties. If you were an independent contractor, then you would have to sue for breach of contract

403b plans can be confusing and often hard to understand. There are many plan rules that one must follow as well. Experts can help by answering any questions you may have about your own particular situation.

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