Open Question: Why do I pay taxes on 403b contributions?
I am in my 20s and work for a non-profit. I decided to pass on my medical insurance,(am covered under my hubby's medical) so my employer puts an additional 500$ a month into a 403b towards retirement, in addition to 6% of my salary. When the contributions started the amount of money that I get biweekly actually went down because I pay taxes on my income, with the 403b money added onto it. Then the money is deducted after taxes are charged, and since I'm not actually getting the money now. I feel like I'll be paying taxes on this money twice. Now, and then when I retire. After researching this a bit I've read that 403b contributions are supposed to be pre-tax. Am I correct? If so what are my options?
