Contributions
The 2019 salary deferral limit for 403(b) and 457 plans is
What is $19,000 with a catch-up of $6,000
Who usually uses 457(f) plans?
What is usually used by tax-exempt organizations, rarely used by government entities?
Nile crocodiles can grow up to __ feet, swim __ mph, and lay __ eggs at a time
What is 23 feet long, 20mph, and 40 eggs at a time
How many types of 403(b) plans are there and what are they?
What are 2, ERISA and non-ERISA
When do you become 100% vested in your contributions?
What is immediately
True or False: Bald Eagles have romantic relationships that last longer than Americans, on average
True
A 403(b) allowing deferrals must satisfy the Universal Availability rule, but this rule does not apply to?
What are Churches or Qualified Church Controlled Organization
What age are RMDs required to be started?
What is 70.5
In general, are Contributions made pre or post tax most commonly?
What is pre-tax
Typically, 403(b) plans only allow individuals to invest in?
What are mutual funds and annuities
A 403(b) allows for what types of contributions? Name 2
What are employee regular (pre-tax), roth salary deferrals, employer contributions, and after-tax contributions if permitted by plan
A 403(b) plan is a salary deferral retirement savings plan that is available to employees of what organizations? We want 3 examples
What are public schools, tax-exempt 501c3 organizations, schools, hospitals, healthcare, charities
What are the rollover options for tax-exempt 457(b) plans?
What are assets in a tax-exempt 457(b) may be rolled over to another 457 tax exempt/non-profit plan only, but assets cannot be rolled to an IRA or another qualified plan
Does EJ offer 457 plans?
What is no
457(f) and tax-exempt 457(b) plans are called "top hat" plans because?
What is they are offered to high compensated key management employees or groups
What taxes are paid on salary deferral contributions to a 403(b) plan?
What are pre-tax deferrals are excludable from federal income tax but typically subject to FICA and FUTA
A 457 plan is a deferred compensation plan that lets you save for retirement with pretax salary deferrals to what type of people (name 3)
What is State, county and city government workers, public school, college or university employees, anyone in upper management and highly paid employees of certain tax-exempt nongovernmental organizations, top level employees working for certain tax-exempt or government organizations (who qualify for what is also known as a "top hat" plan)
Which 457 plans are loans allowable?
Governmental 457(b)
How much meat do tigers consume in one meal?
What is up to 90 pounds
What type of 457 plans are allowed to have Catch-up Contributions within 3 years of retirement?
What are governmental 457(b) and tax-exempt organization 457(b)
What is the last 3 years (before retirement) catch up amount available to contribute for 457(b) plans?
What is $38,000
Which 2 plans are also known as a "top hat plans"
What are 457(f) plans and tax-exempt 457(b) plans
What are 3 reasons you could take distributions from a 403(b) without any penalty?
Separation from service in the year you turn age 55 or older, age 59.5, death, disability, financial hardship (if permitted), plan termination, QDRO Qualified Domestic Relations order, rollover
How can you avoid the 20% withholding penalty on a 403(b) distribution?
What is rolling the 403(b) directly to an IRA
True or False: You can participate in multiple plans if eligible
What is true