The Internal Revenue Service (IRS) announced contribution limits to retirement plans will not change for calendar year 2016.
University Supplemental 403(b) Plan and State 457 Plan Limits for 2016
- Annual elective deferral limit will remain at $18,000.
- Age 50 catch-up contribution limit will remain at $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.
Plan information is available in NESSIE. Contact University Payroll and Benefits (UPB) with any questions.
- Email: firstname.lastname@example.org
- Urbana: 217-333-3111
- Chicago: 312-996-6471
- Springfield: 217-206-7144 or 217-206-7211