My husband holds a 403(b) with his employer, and believes that they are eligible to make contributions directly to the plan administrator. I believe that the ONLY way to contribute elective deferals is with a salary reduction agreement. He believes that he can write a check directly to the plan. That sounds too good to be true.
Please settle this for us.
Publication 571, Section 1, page 3 appears to support my belief, but if there is a way to contribute other than salary reduction via payroll deductions, we'd like to know.
Ever heard of such a thing as writing a check to the plan?
The Spousal Unit