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For the year 2023, the contribution limit for a 403(b) retirement plan is $22,500 for employees under age 50. Those aged 50 and older can make an additional catch-up contribution of $7,500, bringing their total potential contribution to $30,000. It's important to check with your specific plan, as some may have additional provisions or limits. Always consult with a financial advisor or your plan administrator for personalized guidance.
What else can I help you with?
Can you contribute to both a roth IRA and 403b?
yes
Can you contribute to both a 401k and 403b in the same year?
Yes, this is possible if you earn enough and the plans allow it. Your total contribution amount, 401k plus 403b can not exceed the $15,500 ($20,500 if over age 50) for 2008.
Can you contribute to both an IRA and a 403b in the same year?
Yes. Whether or not you can deduct the IRA contribution depends on a variety of factors. Whether or not you can contribute to a Roth IRA depends on your income (or that of you and your spouse combined, if you are married). More information: http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm
How much 403b contribution is to much?
Our first priority while working is to earn sufficient funds to meet our daily living requirements. If our 403b contributions take away from our day to day needs, we are contributing too much or earning too little.
Can you contribute to all 401a 403b and 457b if YES is there a total contribution limit?
Yes you can contribute to all three however the 401k and the 403b share the same elective deferral limit (402(g) Limit) of 16,500 plus 5,500 for over age 50. 457 have a different limit (it's call a 457 limit) plus a separate age 50 catch up (only for governmental 457 plans) so your totals are 16,500 plus 5,500 for 401k and 403b 16,500 plus 5,500 for 457. Total $44,000
Can you contribute to both a roth IRA and 403b?
yes
Can you contribute to both a 401k and 403b in the same year?
Yes, this is possible if you earn enough and the plans allow it. Your total contribution amount, 401k plus 403b can not exceed the $15,500 ($20,500 if over age 50) for 2008.
What is the yearly amount one can contribute to a 403B?
The IRS just released the figures for 2011 and they will be $16,500.... unchanged from 2010.
Can you contribute to both an IRA and a 403b in the same year?
Yes. Whether or not you can deduct the IRA contribution depends on a variety of factors. Whether or not you can contribute to a Roth IRA depends on your income (or that of you and your spouse combined, if you are married). More information: http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm
How do you close a 403B account?
can i close my 403b account
How much 403b contribution is to much?
Our first priority while working is to earn sufficient funds to meet our daily living requirements. If our 403b contributions take away from our day to day needs, we are contributing too much or earning too little.
Does the employer match portion of a 403b counts towards the 2008 max of 15500?
No, the employer matching contribution does not count toward the $15,500 contribution limit for 2008. If you are over age 50 at any time in 2008, you can contribute an additional $5,000 to your 403b plan.
Can you contribute to all 401a 403b and 457b if YES is there a total contribution limit?
Yes you can contribute to all three however the 401k and the 403b share the same elective deferral limit (402(g) Limit) of 16,500 plus 5,500 for over age 50. 457 have a different limit (it's call a 457 limit) plus a separate age 50 catch up (only for governmental 457 plans) so your totals are 16,500 plus 5,500 for 401k and 403b 16,500 plus 5,500 for 457. Total $44,000
Is there any way I can transfer my 403B into money market?
There are many ways to transfer 403B into money market
Can I use my 403b to buy a house?
No, you cannot use your 403b retirement account to directly buy a house.
Can you cash out your 403b?
You can cash out your 403b, but expect tax penalties of up to 30% if you are under the age of 59 1/2.
What is the maximum 403b contribution for 2009?
According to "My Money Blog" the maximum amount for a 403b increases to $16,500 for 2009. http://www.mymoneyblog.com/archives/2009/01/2009-401k-403b-maximum-salary-contribution-limits.html
