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Portfolios 203: 403(b) Plans

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1.
A 403(b) rollover is the moving of your 403(b) plan from its current custodian (holder) to the government.
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False. It is the moving of your 403(b) plan from its current custodian (holder) to another custodian.
2.
Your employer may match the contributions you make to a Roth 403(b) plan.
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True. Your employer may; however, the matches will be pre-tax.
3.
Who of the following would not be able to participate in a 403(b) plan?
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A clerk at a highly profitable software firm. Only employees of non-profit companies may participate.
4.
In order to take an early distribution from a 403(b) plan due to severance from employment, how old (at the minimum) must you be in the year it is taken?
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55. You must be at least 55 in the year that you take it.
5.
If you participate in a 403(b) plan and you also have an individual retirement account, you might not be able to deduct your IRA contributions from your taxable income.
Choose wisely. There is only one correct answer.
True. The law limits how much you may deduct from your taxable income when you participate in an employer-sponsored retirement plan.