A resident of Madison, Wisconsin, Richard Shafer is the executive director of Well and Good LLC. In that capacity, Richard Shafer furnishes investment advice to retirement plan fiduciaries, including plans established under Code section 403(b).

2.  A resident of Madison, Wisconsin, Richard Shafer is the
executive director of Well and Good LLC. In that capacity,
Richard Shafer furnishes investment advice to retirement
plan fiduciaries, including plans established under Code
section 403(b).
403(b)plans may be sponsored by organizations tax-
exempt under Code section 501(c)(3), public education
and churches. Before enactment of Employee Retirement
Income Security Act of 1974 (ERISA) only plans established
under 403(b)had the flexibility to allow employer,
employee mandatory and employee voluntary
contributions to an account with no federal income tax on
those contributions nor on the investment returns until
withdrawn from the account.

3.  After ERISA, other types of employers were given
similar tax-deferred plan opportunity under Code
section 401(k).
Through concerted rule-making, the Internal Revenue
Service and Department of Labor narrows the
differences, whether a plan is established under
403(b) or 401(k). Employers eligible for 403(b) may still
find the rules more advantageous to the plan and
participants than a 401(k) plan. Drawing upon many
years of experience and deep knowledge of 403(b)
plans, for Well and Good LLC Richard Shafer advises
plan sponsors how to efficiently, effectively and
economically adddress their plan investment
fiduciary responsibility in accord with ERISA.