How Do You Contribute To A 403(B) Plan?
403(b) plans are popular investment products among employees at educational and nonprofit organizations. Unlike other retirement products that require you to send in payment to the investment company, contributions to 403(b) plans can be made automatically from your paychecks. Such arrangements can remain in place until you request changes, making it easy for you to contribute to a 403(b) plan. Determine the amount that you can contribute to your 403(b) plan from each paycheck. While there are financial benefits to making contributions to your 403(b) plan, your salary will be reduced by the amount that you contribute. Too lofty of a contribution could place a financial burden on you and your family now, while too small of a contribution could put you in a hard position during retirement. Update your salary reduction agreement with your employer. This agreement, which was originally completed to set up your 403(b) plan, allows your employer to transfer a portion of your salary to the ve
