News & Press: Financial Planning News

It is Time For All Retirement Plan Contributions to be Treated Equally in New Jersey

Wednesday, February 6, 2019  
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By Chris Schiffer MBA, CPA, CFP®, AIF®

Pending legislation in New Jersey could level the playing field on retirement contributions. Unlike the Federal Government and most other States, New Jersey does not allow participants to make pre-tax contributions to 403(b) and 457 plans as well as Health Savings Accounts (HSA). (401(k) contributions are currently allowed on a pre-tax basis). The proposed legislation would level the playing field for all retirement plans, correcting a disparity that impacts mostly teachers and not-for-profit employees.

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