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Is it possilbe to have these two types of investments running at the same time. I have two jobs. One i have the 401k. The other just sent me info to set up a 403b. If I qualify for the 403b as far as my employer is concerned, is it ok for me to set it up, since I also have the 401k. Put it this way can I contribute to two pre-taxed retirement plans working at the same time. Thank you
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[[Is it possilbe to have these two types of investments running at the same time. I have two jobs. One
i have the 401k. The other just sent me info to set up a 403b. If I qualify for the 403b as far as my
employer is concerned, is it ok for me to set it up, since I also have the 401k. Put it this way can I
contribute to two pre-taxed retirement plans working at the same time. Thank you]]

While there are current restrictions on combined defined benefit/defined contribution plans (at least until year 2000), I don't believe that there are any restrictions on this type of deferral, other than the $9500 annual deferral limitation.

You might want to check with TMF Pixy in the "retirement investing" folder for some insight on this specific issue.

TMF Taxes
Roy

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No. of Recommendations: 0
[[Is it possilbe to have these two types of investments running at the same time. I have two jobs. One
i have the 401k. The other just sent me info to set up a 403b. If I qualify for the 403b as far as my
employer is concerned, is it ok for me to set it up, since I also have the 401k. Put it this way can I
contribute to two pre-taxed retirement plans working at the same time. Thank you]]

While there are current restrictions on combined defined benefit/defined contribution plans (at least until year 2000), I don't believe that there are any restrictions on this type of deferral, other than the $9500 annual deferral limitation.

You might want to check with TMF Pixy in the "retirement investing" folder for some insight on this specific issue.

TMF Taxes
Roy
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