Employees tell me they'd like to have a tax-deferred retirement plan they can plunk money into even if the hospital can't afford to contribute. We talk to a retirement plan expert about setting up the 403b plan. We took the proposal to the Board of Directors for approval. The Board surprised us. I'm happy now with the evolution of our hospital 403b plan.
Employees are happy.
Those who choose loaded funds say they are not experienced investors and they need hand holding by mutual fund sales people. They have a choice. The hospital Board of Directors is very happy. They authorized a tax deferral benefit for employees and a matching employer contribution. Hospital employees and management give Board members a pat on the back and a big thank you.