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What Is A 403a

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Guest Sierra

NO. 403a and 401a. These are separate plan codes from 403b.

 

 

I know that section 403a precedes section 403b. I thought you might have meant 403b because 403a is not utilized as much. Having said that what prevents you from reading section 403a?

 

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Section 401(a) or 403(a) plans are available to any for-profit and nonprofit employer. Section 401(a) and 403(a) plans can be either defined contribution or defined benefit plans. For defined contribution plans funded with annuities, no significant difference exists between 401(a) and 403(a) plans. These plans are usually funded solely with employer contributions. After-tax employee contributions are possible, but pre-tax employee deferrals to 401(a) or 403(a) plans are not permitted.

 

Section 401(k) and 403(b) plans are funded primarily with employee contributions, except in cases that allow an employer match. Hope this helps....

 

The Moneyturtle Team

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