403b loan

[Mike or Penny Novack]

PS:

OK, I 've looked up what a 403b is and had these been described by the 
older term TSA* I would have recognized them. But of course nowadays 
allowed to be invested other than in annuities.

I will stand by what I said about needing to read all the fine print 
(which I have not yet done) or speak with a tax advisor. As I understand 
it, the main difference between 403b plans and 401k plans is the former 
are easier to administer and need not pass a "discrimination" test**, 
just be universally available. But I did see something about maybe not 
having the same age requirements. Read the fine print! All of it. The 
IRS folks are not forgiving "persons whose parents were not married to 
each other".

Michael

* Because the "financial" for whom I did software was MassMutual (life 
insurance) and we offered TSA products.

** A 401k must not only be universally available to all who work for the 
business sponsoring the plan but must actually be taken advantage of 
across the board; can't just favor the higher paid employees, those may 
be in a better position to be able to afford higher contributions. A 
401k that "discriminated" against the lower paid workers (evidence; they 
chose not to participate) would be disallowed. The 403b has no such 
requirement but that makes sense as statistics aren't valid for small 
numbers (intended for things like a church which might have just a 
minister, sexton, choir director, and a few office workers/cleaning 
staff as paid workers)