The Internal Revenue Service (IRS) announced new contribution limits for retirement plans in tax year 2015.
University Supplemental 403(b) Plan and State 457 Plan Limits for 2015
- Annual elective deferral limit will increase from $17,500 to $18,000.
- Age 50 catch-up contribution limit will increase from $5,500 to $6,000.
The above limits apply separately for each plan. The 403(b) plan has both pre-tax and Roth options. The 457 plan is pre-tax only.
Questions?
Plan information is available in NESSIE. Contact your campus University Payroll and Benefits (UPB) office with any questions or for assistance.
