ELIGIBILITY
01.Core Concepts
• Plan may require employees to meet the general eligibility requirements of: • Age 21 and one year of service • The following are considered eligible employees (who must meet the age and service requirements) to participate in a 403(b) plan: • Employees of tax-exempt organizations as defined under IRC §501(c)(3). • Employees who are involved in the day-to-day operations of a public school or public school system. • Employees of cooperative hospital service organizations. • Ministers who meet one of the following criteria: Ministers that are employed by §501(c)(3) organizations. Ministers that are self-employed. A self-employed minister is deemed as employed by a tax-exempt organization that is a qualified employer. Ministers who are employed by org anizations that are not §501(c)(3) organizations and function as ministers in their day-to-day responsibilities with their employer. • Self-employed ministers must report total contributions to 403(b) accounts as a tax deduction on their tax returns.