403b/401k question - Page 2

Rider · 07-29-2009, 11:20 AM

Your pre-tax contributions are capped but your after-tax contribution have no cap. Not all plans allow after tax contributions but many plans do.

tommymac · 07-29-2009, 11:21 AM

Quote:

Originally Posted by Rider

Your pre-tax contributions are capped but your after-tax contribution have no cap. Not all plans allow after tax contributions but many plans do.

I did not know that, I never asked about contributing more to my plans but if possible I prolly would.

Tom

shmike · 07-29-2009, 11:32 AM

Quote:

Originally Posted by Rider

Your pre-tax contributions are capped but your after-tax contribution have no cap. Not all plans allow after tax contributions but many plans do.

After tax contributions are also capped.

tommymac · 07-29-2009, 03:57 PM

Spoke with the director, didnt tell me too much but did say i will need to see some peds cases (not too happy about that but whatever) he said as far as benefits to check out the website of the hospital. Turns out they have a 403b plan as well as something with employer contributions so thats a good thing.

So fo rme to have ot see littl epeople an dmake a helacious commute lets see if they give me a salary I can deal with.

Tom

Gas Man · 07-29-2009, 04:50 PM

401b = after tax contributions = you dont have to pay taxes on it when you start to draw

401k = pre tax contri = it lowers your current taxable pay level so you dont get taxed more now. When you draw from it, you make less so again, you don't get taxed as much then either.

403b = wiki definition

As far as your old account. Roll it over to a good IRA

shmike · 07-29-2009, 05:04 PM

Quote:

Originally Posted by Gas Man

403b = after tax contributions = you dont have to pay taxes on it when you start to draw

401k = pre tax contri = it lowers your current taxable pay level so you dont get taxed more now. When you draw from it, you make less so again, you don't get taxed as much then either.

As far as your old account. Roll it over to a good IRA

1. Wrong.

2. Correct in theory, doubtful in reality.

3. Bad advice without know the circumstances.

Tommy,

If you want decent advice, talk to a qualified advisor.

This is not the place to get solid advice on this subject.

tommymac · 07-29-2009, 05:12 PM

Quote:

Originally Posted by shmike

1. Wrong.

2. Correct in theory, doubtful in reality.

3. Bad advice without know the circumstances.

Tommy,

If you want decent advice, talk to a qualified advisor.

This is not the place to get solid advice on this subject.

I have a guy from tiaa-cref who was very helpful. ijust wanted to see peoples expierences here when changing jobs.

Tom

Gas Man · 07-29-2009, 05:29 PM

I made a wrong.. I was thinking 401b.

Here's the dl on 403b Wiki

And stating "talking to a qualified finacial advisor" is a big DUH! Who in their fuckin right mind would do what a MC forum thread in OT tells them. WOW...

zer0t · 07-30-2009, 08:48 AM

Normally it gets rolled over into an IRA account.

I am not sure the markets have stabilized.

07-29-2009, 04:50 PM	#15
Gas Man Trip's Assistant Join Date: Feb 2008 Location: Imported from Detroit Moto: 2009 HD Street Classic Posts: 12,149	401b = after tax contributions = you dont have to pay taxes on it when you start to draw 401k = pre tax contri = it lowers your current taxable pay level so you dont get taxed more now. When you draw from it, you make less so again, you don't get taxed as much then either. 403b = wiki definition As far as your old account. Roll it over to a good IRA __________________ -Chris "Why pay somebody else to fuck up your bike?" Run Amsoil Product Last edited by Gas Man; 07-29-2009 at 05:30 PM.. Reason: cornfused on the "B"s

07-29-2009, 05:29 PM	#18
Gas Man Trip's Assistant Join Date: Feb 2008 Location: Imported from Detroit Moto: 2009 HD Street Classic Posts: 12,149	I made a wrong.. I was thinking 401b. Here's the dl on 403b Wiki And stating "talking to a qualified finacial advisor" is a big DUH! Who in their fuckin right mind would do what a MC forum thread in OT tells them. WOW... __________________ -Chris "Why pay somebody else to fuck up your bike?" Run Amsoil Product

07-29-2009, 11:20 AM	#11
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	Your pre-tax contributions are capped but your after-tax contribution have no cap. Not all plans allow after tax contributions but many plans do.

07-29-2009, 03:57 PM	#14
tommymac Moto GP Star Join Date: Nov 2008 Posts: 11,022	Spoke with the director, didnt tell me too much but did say i will need to see some peds cases (not too happy about that but whatever) he said as far as benefits to check out the website of the hospital. Turns out they have a 403b plan as well as something with employer contributions so thats a good thing. So fo rme to have ot see littl epeople an dmake a helacious commute lets see if they give me a salary I can deal with. Tom

07-30-2009, 08:48 AM	#19
zer0t Kneedragger Join Date: Jun 2009 Location: Morris County, NJ Moto: 2003 FLSTCI 2008 KTM RC8 Posts: 179	Normally it gets rolled over into an IRA account. I am not sure the markets have stabilized.