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GlendaB

Help! What Is A 401(a) Plan?

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I know that this is a 403(b) site but I am hoping some of your readers might have come across this issue. My main job has a 403(b) plan but I also do some work some work for a city where I am required to be enrolled in their PARS plan (Public Agency Retirement Services). I just found out that this plan is a 401(a) plan - not (k) but (a). My question is whether the contributions to a 401(a) have to be somehow coordinated with the contributions to my 403(b) plan to make sure that I don't exceed maximum contribution levels. I know that this isn't an issue with 457 plans but I can't find any info about 401(a) plans.

 

Does any one else have one of these. Anything else I should watch out for? Thank you.

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GlendaB,

Nothing to worry about. I received tax deferred money via a 401a plan when I did some consulting for UCLA through their extension program. All of the contributions are made for you by the employer. Not sure if it counts toward your maximum contribution levels because you are not making contributions.

Steve

 

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The 401(a) is a contribution from your employer and it I am not mistaken is considered a pension (therefore not related to deferred compensation plans & yearly contribution limits).

 

My employer started one in 2002, after they stopped offering new hires retirement medical benefits.

 

Geertom did you mean employer limits or employee contributions limits under deferred compensation plans????

 

 

Gerry Le F

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