BulldogTom Posted January 21, 2009 Report Share Posted January 21, 2009 I know what the plan is. Salary deferral, reduces income, taxable when withdrawn, no early withdrawal penalties. Dumb question - are the deferrals taxed for SS and Med? I am sure they are but can't find it in black and white anywhere. Another dumb question - which is better - 403( or 457? Does it depend on the plans? Any risk of losing your contributions? Who directs the investments in a 457? Is it plan specific? Any help appreciated. Thanks Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Maribeth Posted January 21, 2009 Report Share Posted January 21, 2009 Dumb question - are the deferrals taxed for SS and Med? I am sure they are but can't find it in black and white anywhere. I can answer this one for you Tom. The deferrals are taxed for social security and for medicare. You also will need to check with your state. My State will tax the deferrals for unemployment purposes. Maribeth Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 21, 2009 Author Report Share Posted January 21, 2009 Thanks Maribeth. Quote Link to comment Share on other sites More sharing options...
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