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Financial Planning / Tax Strategies


Subject:  excess 403(b) Date:  12/10/2001  8:42 PM
Author:  ToddTruby Number:  55861 of 127985

My wife's latest pay stub indicates a YTD 403(b) contribution of $10,722. I know the limit is $10,500 and looked at pub 571 and will notify her payroll department to distribute the excess contributions and stop further contributions for the year.

Is this a common occurrance? She has only worked for this one employer this year. Is there not some kind of flag that gets raised when employee contributions exceed the limit?

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