This afternoon we got a missive from HR. Instead of having 2 accounts (retirement, 403B), all participants will have just 1 account (403B). I think that the retirement account is what our non-profit gives you, and the 403B is your contributions. It takes us 6 years to vest, and the vest appears only in retirement. We were assured that the monies will merge rather than the retirement disappears. We'll see. If its true, its a lot easier to asset allocate or rebalance only 1 account. Could well be a super sneaky way to alter matching, vesting, and its a way to hide when the non-profit places the money into the account.
November 15th, 2011 at 04:20 am