Question

Which of the following statements regarding the basic provisions of Section 403(b) plans is CORRECT?

1. A special catch-up provision is available to employees of Section 501(c)(3) organization employers who have at least 1 year of service.
2. An eligible employee may be able to use both a special catch-up provision and an over-age-50 catch-up provision in the same year.
3. TSAs are available to all eligible employees of Section 501(c)(3) organizations who adopt such a plan.
4. If an employee has at least 15 years of service with an eligible employer, an additional catch-up contribution may be permitted.

Question 8 options:

	II only
	I and II
	II, III, and IV
	I, II, and III

Answer 1

Answer : Correct option is II,III and IV

Reason :

The following statements rae correct aboubt the Section 403(b) plans such as that TSAs are available to all eligible employees of Section 501(c)(3) organizations who adopt such a plan , If an employee has at least 15 years of service with an eligible employer, an additional catch-up contribution may be permitted and An eligible employee may be able to use both a special catch-up provision and an over-age-50 catch-up provision in the same year.All these are written in Basic Provision of Section 403(b) Plans.