403(B) Plans Flashcards
1
Q
What are the catch-up contributions?
A
1) 50+ is an extra $7,500
2) minimum of 15 years of service with THE SAME sponsoring school or 501(c)(3) employer an extra $3,000
2
Q
403(b) plans are subject to a _% penalty if distributed prior to age 59 1/2
A
10%
3
Q
what are the 2 investment choices in a 403(n) plan?
A
mutual funds or annuities
