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2015 Retirement Plan Limits

The Internal Revenue Service has announced its 403(b) retirement plan limits for 2015, as shown below.

 

Updated Limits:

  •  Defined Contribution Plan Annual Addition Limit (employer and employee combined): Increases to $53,000
  • Compensation Limit for Determining Benefits: Increases to $265,000

The 2015 retirement plan indexed limits will automatically adjust to the limits set by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA).

 

Updated Limits:

  • Compensation Determining Highly Compensated Employees: $120,000
  • Elective Salary Deferral for 403(b) Tax-Deferred Annuity Retirement Plan: $18,000
  • Age 50+ Catch-Up Limit for 403(b) Tax-Deferred Annuity Retirement Plan: $6,000
  • “15-Year Catch-Up” Provision: $3,000 per year with a $15,000 lifetime limit.  (Available to faculty and staff with 15 or more years of service with the University, who have not taken advantage of the contribution limits in the past.)

 

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