My wife is a researcher employee at a public university in CA, and she has been contributing a large fraction of her monthly paycheck into the university's 457(b) retirement plan. Earlier this year, she received an NIH fellowship (T32) that was supposed to start in mid March. This fellowship would change her job status in a way that makes her ineligible to contribute to the university's 457(b) plan.
The university's HR office has been slow to change her job code/designation to the fellowship code, and they have told us that they will apply the change retroactively back to mid March. So here is my question: What happens with all the 457(b) contributions made from mid March to now?
The university's HR office has been slow to change her job code/designation to the fellowship code, and they have told us that they will apply the change retroactively back to mid March. So here is my question: What happens with all the 457(b) contributions made from mid March to now?
Statistics: Posted by sfengineer — Sat Jun 22, 2024 8:27 pm — Replies 1 — Views 195