457(b) Voluntary Deferred Compensation Plan Annual Contribution Limits

(Authorized by the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001)

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

457(b) Plan Dollar Limits

Rule

2006

2007

2008

2009

2010

Limit on employee contributions

$15,000

$15,500

$15,500
* $16,500
* $16,500

"Catch-Up" contributions for participants age 50 or over

$5,000 additional

$5,000 additional

$5,000 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.

Note: *=Limits subject to annual review by the IRS.


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