{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/69c148bb1a160b44db9c8fcc/69fa34a71353c87e11e00fd1?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Beyond a 401(k)--Understanding a 403(b), 457, and 401(a)","description":"<p>1018. Do you have multiple retirement plans and are unsure how they fit together? Laura answers a listener’s question about having a 403(b) and a 457 plan at work, and a potential second job with a 401(a). Knowing the rules of various retirement plans helps you take full advantage of them and avoid potential mistakes and penalties.&nbsp;</p><p><br></p><p><strong>Key takeaways</strong></p><ul><li>The names of workplace retirement plans come from the sections of the Internal Revenue Code that govern them.&nbsp;</li><li>Plans from different sections of the tax code operate independently, allowing you to double or triple-dip maximum contributions.</li><li>Plans from the same section of the tax code, such as a 401(k) and a 403(b), are subject to one shared annual contribution limit.</li><li><strong>A 403(b) can be offered by public schools, hospitals, and non-profits; it allows an extra catch-up contribution for long-term employees.</strong></li><li>A 457 plan has different types of accounts, but the governmental 457(b) is the most common. It allows an extra catch-up contribution and no early withdrawal penalties.</li><li>A 401(a) is typically offered by government agencies, schools, and non-profits. It usually has mandatory participation and a high annual contribution limit.</li></ul><p><br></p><p>Discover more from Money Girl!</p><p><a href=\"https://www.facebook.com/MoneyGirlQDT\" rel=\"noopener noreferrer\" target=\"_blank\">Facebook</a></p><p><a href=\"https://www.quickanddirtytips.com/newsletters\" rel=\"noopener noreferrer\" target=\"_blank\">Newsletter</a></p><p>Transcripts available at <a href=\"https://www.quickanddirtytips.com/transcripts/money-girl/\" rel=\"noopener noreferrer\" target=\"_blank\">QuickandDirtyTips.com</a>.</p><p>Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.</p><p><br></p>","author_name":"QuickAndDirtyTips.com"}