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Calculating Catch-Up Contributions

Q: For purposes of calculating the 403(b) 15 year catch-up contribution opportunity, does one include all previous 403(b) and 457(b) contributions made with the employer, or just the previous 403(b) contribution?

A: Because the Economic Growth & Tax Relief Reconciliation Act of 2001 removed the coordination of 403(b) and 457(b) contributions effective Jan. 1, 2002, one also will need to count contributions to the employer’s 457(b) plan for years earlier than 2002. But after that one would no longer count 457(b) contributions in the Internal Revenue Code Section 402(g)(7) calculation.