Greetings,
I am just about to begin a job that offers a 403b. This is the first time I've had access to any tax-advantaged account so I want to make sure I do this right while the opportunity presents itself.
My contract extends from Sept 1, 2015 to July 31, 2016. My employer is offering me an 8% match on an $85,000 salary.
403b contributions must be deposited by the end of Dec.
I believe I am correct in that it would be in my great advantage to defer $18k into my new 403b before the Dec 2015 deadline, and then defer an additional $18k into the account before my contract expires during 2016. Please enlighten me if I am dead wrong about that.
My main question is in regards to the 8% match. Is my employer obligated to match 8% per fiscal year or per contract term? In other words, can I sneakily get an extra $6800 from them for fy 2015 and then again in fy 2016?
Thanks!