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Portfolios 203: 403(b) Plans

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1.
The alternative to a periodic 403(b) plan payout is a lump-sum distribution.
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True. You may take your proceeds little by little or all at once.
2.
There are exceptions to the 60-day rule for 403(b) plan rollovers.
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True. If you can prove hardship to the IRS, you may be given longer than 60 days to complete a rollover in limited situations.
3.
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.
4.
How are contributions to 403(b) plans made?
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Reductions in salary. Employees sign agreements to let their employers take certain amounts from their wages and put them into the plans.
5.
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.