403b rollover + contribution limits

[edmundblackadder]

I have a 403b at a former employer, which I left earlier this year; let's call that the Christopher account. My new employer has a 403b plan as well, which we can call the John account. Both 403bs are managed through Vanguard. With my next paycheck, I will hit the 19K contribution limit on these accounts combined.

If I roll the Christopher account over to my IRA in this calendar year, does that effectively "re-set" my contributions so that I can continue contributing to the John account? Or am I just done with 403b contributions for the year?

(I've never done a rollover before.)

[dandarc]

No. You get $19K in contributions combined for the year for all 401K's and 403B's combined.

Do you also happen to have access to a 457b at the new job? A lot of times those go together and that would be a separate $19K bucket. Ideally a governmental employer - school district or public university often will have both a 403B and a 457B.

[edmundblackadder]

I am sad but unsurprised to hear this. The 457 is available only to people making >200K, alas, and that is not me.

[dandarc]

I am sad but unsurprised to hear this. The 457 is available only to people making >200K, alas, and that is not me.

Ah - a top-hat plan. You'd likely have some credit risk you might not want to take on there anyway. Non-governmental 457 assets can be seized in a bankruptcy of the employer.