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Once an employee has worked the number of days to become eligible to enroll in the retirement plan, they are eligible to contribute no matter the amount of hours they work (both part-time and full time workers are eligible) as long as they receive enough taxable wages (not parsonage wages) for the 403B contribution amount to be deducted from those taxable wages.
You have two options for the 403(b) contributions that are deducted directly from your paycheck, Traditional and Roth. You can choose to make employee contributions through just Traditional, just Roth, or both Traditional and Roth. You determine your employee contribution amounts for each type within these Annual Contribution Limits.
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Reliant encourages all international employees to seek tax counsel regarding IRS ruling 70-491 when determining if the Roth option is something they should utilize for their retirement savings. There may be tax implications of selecting Roth for your retirement funds while filing under the Foreign Earned Income Exclusion . to consider and discuss with your tax counsel. |
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