Are you contributing to a supplemental retirement and investment plan?
- If not, now may be a good time to start!
- If you are, consider increasing your contribution, or reviewing your retirement goals, and updating your beneficiaries.
As a University of Illinois employee, two supplemental retirement plans are available to help increase your retirement savings opportunity. Enrollment is voluntary and available at any time.
Contribution Limits
The 2017 contribution limit is $18,000* ($24,000 if you are age 50 or over) for each plan. You may contribute both traditional (pre-tax) and Roth (after-tax) at the same time, but your combined contributions cannot exceed the limit listed above for each plan. You may contribute to these plans simultaneously and you may be eligible to make additional contributions in some cases. See the Supplemental Retirement Plan Comparison Chart for more information.
* If during the calendar year you contribute to a retirement plan through another employer, it is your responsibility to monitor your contributions to all plans to ensure you do not contribute over the IRS maximum allowed each year.
Questions?
View the Retirement & Investment Plans in NESSIE or contact University Payroll and Benefits (UPB) for assistance.
Retirement and investment plan information is general in nature about matters of interest to University of Illinois employees. This information is not legal, financial, or tax advice. You should consult with a legal, financial, or tax professional for assistance with your individual circumstances.
