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  1. One of our clients is a school superintendent who will retire this year. He has accumulated sick time worth $43,000. His 403b admin told him that he can contribute the entire $43,000 to the 403b plan. He asked us to verify this. We have said that, because the $43,000 will be included in his compensation for the year, it can be considered in the "100% of compensation or $12,000. plus eligible catch-up" limit on 403b deferrals for 2003. He said that he can contribute the full $43,000. Has anyone heard of a exception for sick-time that is paid-out upon separation from service? I have not found any reference to this in the 571 or other publications. Thank you! [i apologize for the typo above.]
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