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Author: Molly66 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77078  
Subject: 401k Timeliness same for 403b? Date: 7/24/2001 5:16 PM
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Was just reading posts about timeliness issues for 401k accounts and was wondering if same DOL rules apply for 403b contributions. My wife is a teacher and the district where she works pays the employees for the summer in one check at beginning of June (amounts to 5 paychecks). The problem is, they send in the contributions that were withheld in the big check spread out over the months of June, July & August rather then the whole amount in June. August's contribution doesn't get to the Fund Co until September, more than 3 months after they withheld the funds from her wages. That's a long time! These are 100% employee contributions (no employer monies). How do the ERISA laws apply to 403b's? A very confusing topic I'm finding out.
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