403(b) Contribution Limits Increase
December 2, 2008 | wbessetteIf you’re currently contributing to a 403(b) or 457 plan, or would like to, the maximums will change January 1, 2009.
The general limit on contributions for 2009 has increased to $16,500 per year. If you are over age 50, the catch-up contribution amount will be an additional $5,500 per year.
If you would like to increase your contributions, you will need to complete a new salary reduction agreement and send it to the Payroll Office located at the Downtown Education Center. You can find the salary reduction agreement on the Financial Resources website located under “forms”.
Questions? Call the Payroll Office at 258-2436.
