No. of Recommendations: 0
First point--would appreciate a link or information on a good grass roots explanation of a 403(b). I understand it's similar to a 401(k), but the governmentese of my plan description is murky at best. Somewhat typical of the engineering school I work for, I'm afraid

Second point--Does an employer's contribution to a 401(k) count toward the employee's total contribution? My husband has a 401(k) he contributes to, and would like to increase his contribution to the maximum. If there's a link that answers this, then terrific. I'll quit bothering people.
Print the post Back To Top
No. of Recommendations: 0
Greetings, Thessa, and welcome. You wrote:

<<First point--would appreciate a link or information on a good grass roots explanation of a 403(b). I understand it's similar to a 401(k), but the governmentese of my plan description is murky at best. Somewhat typical of the engineering school I work for, I'm afraid

Second point--Does an employer's contribution to a 401(k) count toward the employee's total contribution? My husband has a 401(k) he contributes to, and would like to increase his contribution to the maximum. If there's a link that answers this, then terrific. I'll quit bothering people. >>


You will find an overview of the limits and an explanation of both plans in my Foolish Retirement Plan Primer at http://www.fool.com/Retirement/RetirementPlanPrimer.htm, in the 401k area at http://www.fool.com/money/401k/401k.htm?ref=RTR401k and in the special article on 403b area at http://www.fool.com/specials/2000/sp001016.htm .

Regards..Pixy
Print the post Back To Top
No. of Recommendations: 0
Thessa -

Go to: www.irs.gov and search for Publication 571. That's a first-hand explanation of all the rules. You can inquire further if you don't understand something there!

You spouse's employer's contributions to his 401k do not count toward his annual contribution limit. I forgot the IRS Pub that covers this... (surf around).

Good luck, PP
Print the post Back To Top
No. of Recommendations: 1
The most comprehensive site I've ever seen is:

www.403bwise.com


Good luck!
Print the post Back To Top
Advertisement