The following chart summarizes the changes in tax law that impact the University 403(b) plan.
|403(b) Plan Dollar and Percentage Limits|
|Limit on employee contributions||$17,000||*$17,500||*$17,500|
|"Catch-Up" contributions for participants 50 or over||$5,500
|Compensation limit for plan contributions for UD employees joining the plan after 7/1/1996||$250,000||*$255,000||*$260,000|
|Limit on employer plus employee contributions||**$50,000||**$51,000||**$52,000|
* Limits subject to annual review
by the IRS.
** Age 50 Catch-up contributions can be excluded from 415 Limit, allowing total employer and employee contributions to be as much as $56,500. Contact Human Resources for additional information.