I contribute to my 403(b) and 457(b) plans. When will my contributions be taken?
If you set up your contributions as a percentage deduction, the percentage amount will be taken each payday. For example, if your current 403(b) contribution is set at 5% per month, a 5% contribution will be made each biweekly payday. If you set up your contributions as a flat dollar amount, it will be divided in half and taken in the first two bi-weekly pay periods in a month but not taken during the “benefits holiday” pay period, which occurs twice per year.