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    dws21396's Avatar
    dws21396 Posts: 10, Reputation: 1
    New Member
    		  
    #1

    Nov 8, 2006, 09:50 AM
    401 (a) Plans
    Are there folks out there who have had experience with 401 (a) plans? I'm a trustee and wonder if a 401 (a) wouldn't be better than a 401 (k).

    Thank you.
    RichardBondMan's Avatar
    RichardBondMan Posts: 832, Reputation: 66
    Senior Member
    		  
    #2

    Nov 8, 2006, 08:39 PM
    I have never heard of a 401(a), only 401(k's) for private for profit type companies and 403(b's) for employes of non profits. Can you shed shed some light on what kind of company, entity can adopt a 401(a) if there is such an animal.
    dws21396's Avatar
    dws21396 Posts: 10, Reputation: 1
    New Member
    		  
    #3

    Nov 9, 2006, 08:13 AM
    I've been told that some employers offer a 401(a) plan. I hadn't heard of them before either. I've done a Google search and haven't been able to get very much information about this type of DC plan. I'm interested in user comments about the benefits of this type of plan compred to a 401(k).
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Nov 9, 2006, 08:24 AM
    A 401(a) is a stock bonus, pension, or profit-sharing plan. Generally, in a 401(a), the company makes the contributions to the plan, though some can have employee contributions. Usually these plans allow for employee ownership via investment in company stock.

    A 401(k) is much more flexible for employees hence its much greater popularity.
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