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Maximizing the 403B

September 17th, 2011 at 03:45 am

We had a benefit talk at an all staff meeting yesterday. There's a possibility that the 403B contributions will get sweetened up. Which led to a co worker telling me that he "maximized his contributions". After a little more questioning, I had to gently let him know that he merely put in enough to maximize the company match. 8% is usually A LOT less than 16.5K.

Somehow I think that the personal finance writing is pretty damn sloppy on that point. Maximize the match suddenly is heard as maximize the 401K/403B and that's a big hairy difference.

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