Korean Job Discussion Forums

[the dakota kid]

Hello all,

are you able set up or continue to contribute to a 403(b) fund? I have searched for this topic on the web and here, but I was not able to find anything regarding teaching abroad. I plan on teaching in a PS in March 2008.

Any ideas?
Dustin/tdk

What is a 403(b) Tax Sheltered Annuity?
A Tax-Sheltered Annuity (TSA), also known as a 403(b) plan is named after a section of the Internal Revenue Code. It is an employer sponsored retirement savings program. Participation is limited by law to employees of public educational organizations and certain nonprofit organizations. The vast majority of participants are teachers in public schools, colleges and universities.

[MarionG]

Yes, you are, but ONLY if you are paying taxes in the US...and you would be financially ahead to NOT pay taxes in the US and NOT contribute to a 403(b) while you are here.

[the dakota kid]

Thanks MarionG,

that is what I thought, but it never hurts to ask. I will be meeting with my financial advisor this week to discuss options. More than likely, I will roll over my 401K into a Roth IRA or something similar.

tdk/Dustin