403b + 401k same employer
I see a lot of healthcare employees that have the option of a 401k and 403b at the same employer. The most recent had a 5% Mandatory Employee contribution which had a 5% employer match. The plan literate said the mandatory employee 401k contribution did not detract from the ability to put $22,500 in the 403b in 2023. Does that sound correct or like a mistake?
Permalink Submitted by Alan - IRA critic on Wed, 2022-09-28 22:02
Are you sure that the 401k is not a 401a instead? That would allow for a separate limit for the 403b.