403(b) and 457 Contribution Limit Question

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jmlp
Posts: 6
Joined: Thu Apr 26, 2012 4:37 pm

403(b) and 457 Contribution Limit Question

Post by jmlp » Mon Mar 20, 2017 11:27 am

This year I have contributed some money to a 403(b) offered by a university employer. I switched to a government job earlier this month, which offers a 457 (http://www.mass-smart.com). For 2017, the contribution limits for 403(b) and 457 is $18,000.

From this guidance (https://www.irs.gov/retirement-plans/ho ... ement-plan), does this mean that I can contribute up to $18,000 in the 457 even though I have already contributed $2,000 to my 403(b) for 2017? I just wanted to make sure that the contribution limits for 403(b) and 457 are completely separate.

Thanks!

dbltrbl
Posts: 821
Joined: Thu Mar 01, 2007 11:52 am

Re: 403(b) and 457 Contribution Limit Question

Post by dbltrbl » Mon Mar 20, 2017 11:28 am

Yes. You can.

Mudpuppy
Posts: 5160
Joined: Sat Aug 27, 2011 2:26 am
Location: Sunny California

Re: 403(b) and 457 Contribution Limit Question

Post by Mudpuppy » Tue Mar 21, 2017 2:56 am

Yes, the contributions are separate for the 457(b) plan. So feel free to contribute up to $18k in your new 457(b) plan.

jmlp
Posts: 6
Joined: Thu Apr 26, 2012 4:37 pm

Re: 403(b) and 457 Contribution Limit Question

Post by jmlp » Wed Mar 22, 2017 12:02 pm

Thank you both for the re-assurance!

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