Tom Russ
Guest
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 Posted:
Fri Oct 21, 2005 8:00 am Post subject:
403(b) Special 15 year Election. |
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I've just been looking through the on-line benefits
information for our retirement program at the University.
It seems that there is a "Special 15-year Election" that
allows for higher contributions to 403(b) plans. I looked a
bit but couldn't find out too much about it. It seems to be
some sort of catch-up provision in one of the retirement
reform acts.
My questions:
(1) Who is eligible? Is it all employees with at least 15
years service?
(2) Is there any disadantage to making the election?
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