Is there a rule about when an employer has to deposit matching contributions into the 403(b) account?
Each 403(b) plan has its own rules regarding the timing of employer contributions. Some employers make contributions every pay period, while others only make them once a year. You should check the summary plan description, available from your human resources or benefits representative, to see what rules govern your plan. Generally, for 403(b) plans operated by nonprofit organizations, employer contributions must be made by the 15th day of the sixth month following the close of the plan year. Commonly, that is June 15. For 403(b) plans operated by for-profit corporations, such as a nonprofit hospital acquired by a for-profit hospital corporation, the employer has until it files its corporate income tax. So, an employer would generally have until at least March 15 of any given year to make the contribution for the previous year (or possibly as late as Sept. 15, because the IRS automatically grants an extension if needed).
