Similar to its annual 401(k) Day, the Plan Sponsor Council of America (PSCA) has created a day to celebrate and promote retirement savings plans for nonprofit employees. PSCA is has announced the creation of 403(b) Day, a special event dedicated to raising awareness of retirement saving for nonprofit employees.
Taking place annually on April 3, 403(b) Day will be a day of education, resources, and awareness for nonprofit organizations that offer 403(b) retirement plans to their employees. PSCA created 401(k) Day nearly 30 years ago, which is observed on the Friday following Labor Day, to raise awareness of the importance of saving for retirement through workplace savings plans.
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“Nonprofits play a critical role in our communities, and ensuring their employees have access to secure and effective retirement plans is essential,” said Will Hansen, PSCA’s executive director. “403(b) Day will serve as an opportunity to spotlight the importance of these retirement plans and empower nonprofit leaders to support their employees’ financial futures.”
The goal of 403(b) Day is to provide nonprofits with the tools they need to enhance employee engagement and help employees make the most of their retirement benefits. Similar to 401(k) Day, 403(b) Day will offer educational materials that organizations can use to promote their retirement plan to employees.
“403(b) plans play such a huge role in preparing millions of employees across the nation for a secure retirement,” said Nate Glassey, executive director of the National Tax-Deferred Savings Association (NTSA). “We are excited to coordinate with PSCA to grow and expand the resources of 403(b) Day in the future. What a wonderful opportunity to help educate plan sponsors and plan participants alike throughout the country.”
There's a push by Congress to include the ability for 403(b) plans to use the low-cost collective investment trust (CIT) options that many 401(k) plans use today, in a bill, Empowering Main Street in America Act of 2025, that was reintroduced in February.
The bill is another attempt to pass the CIT legislation after Congress was unable to enact previous versions of this bill. Two trade groups, Investment Company Institute and the Insured Retirement Institute, are urging Congress to pass the bill.
Related: House, Senate introduce bills to allow collective investment trusts in 403(b)s, as trade groups lobby
This year’s PSCA 403(b) Day campaign includes a “fact or fiction” slide deck that addresses common barriers to retirement plan participation. Plan sponsors can also use the branded 403(b) Day banners and ads in email campaigns to promote the materials in email or social media campaigns.
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Lynn Cavanaugh
Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.
