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Benefits Beginner: Introduction to 403(b) Plans

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1.
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.
2.
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.
3.
Taxes are deferred on contributions to a 403(b) plan until _______.
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The individual begins making withdrawals. Age and retirement do not affect the tax status.
4.
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.
5.
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.