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403(b) Plan

Also known as a Tax-Sheltered Account (TSA), a 403(b) plan is available only to employees of public schools, nonprofit hospitals and other specific tax-exempt organizations. This plan lets employees set aside a portion of their salary, before taxes, through payroll deduction.
Untitled Document
 
Who May Establish Employees of public schools and tax-exempt 501(c)(3) organizations.
Establishment Deadline Before employee contributions begin.
Contribution Deadline Salary deferral contributions generally deposited with each pay period.
Who Contributes Generally employees.
Annual Contribution Limit Generally, for 2016, 100% of pay up to $18,000 ($24,000 if age 50 or older). Special "catch-up" elections may increase the contribution limit.¹
Contribution Requirements Contributions are discretionary each year.
Employee Eligibility Determined by employer's plan.
Vesting Always 100% for employee contributions.
Withdrawals Determined by employer's plan.
Loan Feature No longer offered on Amundi Pioneer 403(b) accounts effective
Nov. 1, 2011
Plan Administration Employer.

 

1Additional catch-up contributions may be available to participants with 15 years of service with the same employer.

This material is not intended to replace the advice of a qualified attorney, tax advisor, or insurance agent. Before your client makes any financial commitment regarding the issues discussed here, make sure he or she consults with the appropriate professional advisor.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Amundi Pioneer for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our web site.