403b and 403b Roth

We currently have 403b and have it set up through BSI. We are adding a new 403bRoth option in addition to the 403b. How do I connect the two in BSI so it looks at both to stop at the limit. Do I need a separate BSI Code for those signed up for both the 403B and 403B Roth?

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Comments

unknown

We had to set up one plan on BN15 -- and then the deduction code for Roth is after tax and the deduction code for 403B is pretax. When the benefit is added on BN32, the pretax/aftertax indicator is set to P, A, or B (for both). If they are deferring to both, the total deferral is split between the pretax amount and the after tax amount (or percent if they are doing a percent)

tevers

Wonderful!!!! Thank you so much.

sriman-shivakoti

Don't forget to set up your OV55 payment overrides for the Roth in BSI for all appropriate tax authorities.

unknown

Hi Cyndie, Thanks for the information. We're testing this now, however, the Roth is coming out before taxes. Did you run into an issue like this? I have it set up as the 403(b) Roth on the PR05. It's in the After-tax box on the BN15. The employee record as a percentage in both the pre-tax and after-tax box.

unknown

Is anyone using a fiscal year for their plans Vs a calendar year? If so how are you accumulating wages so that you do not exceed the federal limit for max compensation?

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