Q. How much can be contributed to a 403(b)account?
A. There are limits on the amount of contributions that can be made to a 403(b) account each year. If contributions made to a 403(b) account are more than these contribution limits, penalties may apply.
The IRS provides information in Publication 571 regarding how to determine the amount that can be contributed, how to prevent excess contributions and how to correct an excess contribution. The publication also provides worksheets regarding the maximum amount that can be contributed to your 403(b) account each year.
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