Okay, so I found out that my employer (University of California) would let grad students (that's me)contribute to a 403(b), and I got everything set up. When I asked them for my contribution limit,they told me it was $4250 for this year (I'm assuming their calculation is based on my past year's salary).This year, I'm on a fellowship, with a small additional salary. So the salary that I get from payroll is only about $8000. I set up 60% of the check to go in for the rest of the year (comes out to about $3500 by December, since I had no account until June)My Questions:1) Can I count my fellowship when calculating the limit. (The amount on the YTD salary doesn'tinclude it, but can I argue that since the fellowship check was signed by the same entity that it's partof my salary?) (please, please say yes ;) *** OK, Reality Check ***2) Is my contribution limit affected? (I think it's 16% of this years salary, or $1280, but I may be way wrong)3) If so, how can I calculate my (pre-tax) contribution limit?4) Payroll says that when you hit your limit, they'll stop shunting money into the 403(b) from yourcheck. Can I sit back and wait for their limit ($4250 if they don't revise it) to be reached, or do Ihave to watch it myself and stop contributing when I reach the limit?(I'm assuming it's my responsibility too...)Ack. Somebody please tell me I researched something wrong, or April isn't going to be a prettymonth.Who knew a pay raise could be such a pain in the butt.Thanks in advance,mdebar
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra