Jump to content
Sign in to follow this  
darkmaniels

403(b) Age Limits

Recommended Posts

Hi darkmaniels,

 

Michael Devault was kind enough to answer your question. His answer follows:

 

There is no maximum age limit for either opening or contributing to a

403(b). As long as you are working for an eligible employer, you can

contribute to a 403(b) regardless of your age. Furthermore, distributions

are not required as they normally are at age 70½. If you're still working,

you're not required to take distributions until April 1 of the year

following that in which you retire.

Share this post


Link to post
Share on other sites

Thanks! That would be a PENALTY free, but not a TAX FREE and how about the CDSC (surrender fee)?! They can't move it to an IRA if they are working though, can they?

 

 

Share this post


Link to post
Share on other sites

Sorry, I just read another of you posts regarding:

 

The IRC permits this. See IRC sections 403(b)7 and (b)11.

 

Rolling over into an IRA while employed if over 59.5.

Share this post


Link to post
Share on other sites
Guest Sierra

At 59.5 an inservice 403b holder may rollover to another 403(b), 401(k), 401(a), 457(b) or IRA.

 

Joel

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...