For Livermore folk
The details of comparisons between defined benefit plans and defined contribution plans are much more subtle and important than they appear to be.
Careful analysis of risks and rewards is critical.
Also, the apparent rules for 401K, 403B, and their cousins are not the actual rules.
posted by Eric at
6:38 PM
2 Comments:
I have seen the answer to these questions on the LANL Blog so now lets see what your answers are oe by one in detail.
1. In your dealings with the new contractor were you allowed to take your 403b and dump it into their 401k in order to kick start it?
2. Were you able to continue to contribute the max allowable contribution (in my case $22,500 per year)?
3. Did you receive the 6% matching fund from LANS too?
4. Was there also an additional 5% contribution from the new contractor on top of that matching 6%?
5. Were there any maintenance fees associated with the contractors 401k that the contributors will have to pay out of their pocket?
6. It is true that if LLNL employees want the tax deferred benfit of a 401k we can only contribute to what LLNS,LLC offers and if we chose to venture off our own 401k becasue we do not like the list they provided we have to do this with after tax funds.
I will answer some generic parts of these questions as I have time.
For many people, however, the answers are not generic but individual.
Later
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