457(b) Voluntary Deferred Compensation Plan Annual Contribution Limits


The following chart summarizes the changes in tax law that impact the University 457(b) plan.

457(b) Plan Dollar Limits
Rule 2012 2013 2014
Limit on employee contributions $17,000 *$17,500 *$17,500
"Catch-Up" contributions for participants age 50 or over $5,500
additional
*$5,500
additional
*$5,500
additional


Special Retirement Provision - Employees who are within three years of attaining normal retirement (age 65 per plan document) may contribute the lesser of (1) twice the annual limit, or (2) the annual limit plus the total amount of underutilized contributions from the prior years.

*Limits subject to annual review by the IRS.