Publication 571 - Tax-Sheltered Annuity Plans (403(B) Plans) For Employees Of Public Schools And Certain Tax-Exempt Organizations

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Publication 571
Contents
(Rev. January 2002)
Cat. No. 46581C
Important Changes for 2001 . . . . . . . . . 1
Department
of the
Tax-Sheltered
Important Changes for 2002 . . . . . . . . . 2
Treasury
Internal
Important Reminders . . . . . . . . . . . . . . 2
Revenue
Annuity Plans
Service
Introduction . . . . . . . . . . . . . . . . . . . . . 2
Chapter
(403(b) Plans)
1. 403(b) Plan Basics . . . . . . . . . . . . . 3
2. Maximum Amount
For Employees of Public
Contributable (MAC) for 2001 . . . . . 4
Schools and Certain
3. Maximum Exclusion
Tax-Exempt Organizations
Allowance (MEA) . . . . . . . . . . . . . . 6
4. Limit on Annual Additions for
2001 . . . . . . . . . . . . . . . . . . . . . . . 12
5. Limit on Elective Deferrals . . . . . . . . 13
6. Alternative Limits on Annual
Additions . . . . . . . . . . . . . . . . . . . . 15
7. Ministers and Church
Employees . . . . . . . . . . . . . . . . . . . 16
8. Contributing to Both a 403(b)
Plan and a 457 Plan . . . . . . . . . . . . 17
9. Figuring MAC for 2002 . . . . . . . . . . . 18
10. Catch-Up Contributions . . . . . . . . . . 22
11. Excess Contributions . . . . . . . . . . . 23
12. Distributions and Rollovers . . . . . . . 24
13. Worksheets . . . . . . . . . . . . . . . . . . 26
14. How To Get Tax Help . . . . . . . . . . . . 36
Index . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Important Changes for
2001
Amounts previously excludable. Amounts
previously excludable for purposes of figuring
your maximum exclusion allowance (MEA) does
not include contributions to a defined benefit
plan. See chapter 3.
Increase in limit on annual additions. For
2001, the limit on annual additions, is the lesser
of $35,000, or 25% of your compensation. This
is an increase from the lesser of $30,000, or
25% of your compensation. See chapter 4.
Increase in limit on contributions to 403(b)
plan and 457 plan. For 2001, the general limit
on contributions in the same year to both a
403(b) plan and a 457 plan is the lesser of
$8,500 or one-third of your includible compensa-
tion. This is an increase from the lesser of
$8,000 or one-third of your includible compensa-
tion. See chapter 8.

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