Consolidating 401 k plans
Secretary Acosta wrote that, "The fiduciary rule as written may not align with President Trump's deregulatory goals." However, DOL concluded there was "no principled legal basis to change the June 9 date." Source: Groom.com, May 2017 Abstract: The DOL has announced that the new fiduciary conflict of interest rule and related exemptions will begin taking effect on June 9, 2017, ending speculation of further delay.
At the same time, the Department announced a relaxed enforcement standard for the rest of 2017.
Each year near the end of the year the company sends a notice which describes their match provisions.
This notice will let you know if they use a safe harbor match.
Despite predating the 401(k) by several decades, the 403(b) plan suffers a myriad of problems that adversely affect participants.
Vesting is also used to determine how much you can borrow if you take a 401(k) loan, as you can only borrow from your vested balance. You are always 100% vested in your contributions, so you always keep your own money.