Hello folks,
I recently graduated from residency and moved to my new job. The residency and the current job are both in academic institution that offer 403b. I tried to put as much money as possible in 403b from the residency but was surprised to hear that I cannot put full $18000 in my new job's 403b because of prior contribution to former residency's 403b. In other words, since I contributed about 10K in the residency program's 403b, I would be only allowed to contribute 8K in my new job's 403b.
I always thought you can have multiple 403b, just like you can have multiple 401k as long as they are from different W2. What am I missing here? Any tips/links/explanation would be very helpful.
Thank you.
I recently graduated from residency and moved to my new job. The residency and the current job are both in academic institution that offer 403b. I tried to put as much money as possible in 403b from the residency but was surprised to hear that I cannot put full $18000 in my new job's 403b because of prior contribution to former residency's 403b. In other words, since I contributed about 10K in the residency program's 403b, I would be only allowed to contribute 8K in my new job's 403b.
I always thought you can have multiple 403b, just like you can have multiple 401k as long as they are from different W2. What am I missing here? Any tips/links/explanation would be very helpful.
Thank you.
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