Hi all. I've outlined my situation a bit in my journal thread, but something occurred to me that I have no idea how to find out the answer to. And then I remembered all you wonderful finance nerds (in the best way) and hoped you'd like to help me out.
I'm working for a university and contributing 70% of my salary to a 403(B) plan. That's $940-ish twice per month. My employer doesn't make any matching contributions (boo!). The benefits website says: Employees may contribute up to $18,000 annually ($24,000 if age 50 or older at any time in the calendar year) in pretax dollars to both the 403(b) and the 457(b) plans.
My question is - um, is this OK? Is this the best way to be socking away pretax $? Should I additionally enroll in the 457(b) plan? The 70% contribution is the max allowed, and I only changed to it last month, so since Jan I've contributed around $5400. Once I hit $18k for the year, I can manually remove the contribution. I think.
I'm also planning on resigning AT SOME NOT TOO DISTANT POINT in the future (the timing is uncertain) so it's possible this is all moot anyway :)
Thanks in advance for any advice.