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I am employed as a contract consultant. I am required to contribute 6.2% of my earnings on a pre-tax basis to a 401(a) qualified plan. Is this like a 401(k) or is it like social security or something else? No one seems to be able to give me any information, including the 401(a) administrator. I also have FICA-Medicare(not Social Security)deducted from my check. Will I have to pay social security taxes on top of income taxes on April 15th? Can I contribute to a traditional IRA or a ROTH in addition to the 401(a)? I have even consulted with a CPA and a financial planner and they say they have never heard of a 401(a). Help! I need info - fast!
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