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Lsw 403b Form

Lsw 403b Form

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Instructions and help about lsw forms for withdrawal

hey what's up everyone and welcome to the school of personal finance my name is rich mcCormick and in this video we're going to be talking 403 B plans a [Music] 403 B plan is a retirement plan that is offered to employees of nonprofit organizations schools hospitals religious organizations it's very similar to a 401k plan but there are some big differences so the 403 B you could contribute directly through payroll deduction so the money comes out of your paycheck and it goes over into your 403 B accounts and then inside of your 403 B count you're gonna have a menu of different investment options that you could invest for your future retirement so in that way it's very similar to a 401k the big incentive with the 403 B is that when you make the contributions you did not pay taxes in that year on the money you contributed so for example if you make $50,000 and you contribute $5,000 into your 403 B you will not pay state and federal income tax on that $5,000 in the year you made the cont

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