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Withholding on 403b contributions?


Guest Kenneth
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  • 3 weeks later...
Guest Brent Rowell

Assuming no risk of forfeiture:

Employer contributions NO

Employee Salary reduction YES

If risk of forfeiture FICA postponed until forfeiture lapses

(Did not mean to sound like an authority ... but I believe the information is correct)

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Brent

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  • 4 years later...
Guest dietpepsi

This is an old post, but does anyone know if this applies to ministers as well as lay people? I received a question regarding the difference between a 403(b) plan for a minister and a 401(k) plan for a minister. It says contributions to a TSA account by a dual-status minster are not subject to social security and medicare. Is this true? Does the same apply to contributions to a 401(k) plan? Reference is to Rev. Rul. 68-395 and Rev. Rul. 65-208. The ultimate question being, is there an advantage to setting up a 403(b) plan instead of a 401(k) plan.

Thanks

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