403 (b) Plan
A 403(b) is a pre-tax salary deferral
plan for employees of hospitals, public schools, churches
and other nonprofit organizations.
Key Benefits of a 403 (b) Plan:
- Participants can make pre-tax salary deferral
- Permits higher contribution limits than
- Distributions are not permitted prior to
age 59½ except for death, disability,
financial hardship, or severance of employment.
Who Can Establish:
- Employees of Universities
- Employees of Colleges
- Employees of Hospitals
- Employees of Churches
- Employees of Schools
- Employees of Non-profit 501(c)(3) groups.
- Who contributes: employee.
- The lesser of 100% of eligible compensation
or $16,500 ($22,000 if age 50 or older) in
2009. Additional catch-up contributions may
403 (b) Candidates:
- Public school systems.
- 501-C3 organizations (non-profits) which
include hospitals, churches, and charity organizations
Contact a LPL Investment
Consultant to go over your options for retirement.
Financial Advisors of LPL Financial are Registered Representatives with, and Securities, Advisory Services and Insurance Products are offered through LPL Financial and its affiliates, Member FINRA/SIPC. LPL Financial is not a registered broker/dealer. Investments are: Not FDIC insured, may lose value, are not bank guaranteed, and are not obligations of LPL Financial. LPL Branch Office located at 1311 Carolina Ave, Washington, North Carolina 27889. Investment Advisory Services offered through LPL Financial, a SEC Registered Investment Advisor
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