403(b) Plans

IF YOUR WORK FOR A PUBLIC SCHOOL OR A 501(C)(3) TAX EXEMPT ORGANIZATION, A 403(B) IS A GREAT WAY TO SAVE FOR RETIREMENT

Who Can Participate in a 403(b) Plan?

The following employees are eligible to participate in a 403(b) plan.

  • Employees of tax-exempt organizations established under section 501(c)(3). These organizations are usually referred to as section 501(c)(3) organizations or simply 501(c)(3) organizations.
  • Employees of public school systems who are involved in the day-to-day operations of a school.
  • Employees of cooperative hospital service organizations.
  • Civilian faculty and staff of the Uniformed Services University of the Health Sciences.
  • Employees of public school systems organized by Indian tribal governments.
  • Certain ministers.

Contributions
403(b) plans can receive the following types of contributions:

  • Employee Deferrals
  • Employee Roth Deferrals
  • Employee After-Tax Deferrals
  • Employer Non-Elective Contributions
  • Employer Matching Contributions

Portability
If you leave your job, you can leave your money in plan, roll your 403b account to into another employer’s eligible retirement plan, or to a traditional IRA or (if rolled directly) a Roth IRA.

Deferral Limits

  • The annual individual savings deferral is limited by law to $19,000 for 2019.
  • For individuals age 50 and older, an additional catch-up contribution of $6,000 is allowed in 2019. Special catch-up limits apply.

Let us exceed your expectations. Contact Jen Burnett at (888) 388-1040 to learn more.

 

 

Resources

View All 403(b) Plans Resources