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||$17,500||$17,500||*$18,000|
|"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||$255,000||$260,000||*$265,000|
|Limit on employer plus employee contributions||$51,000||$52,000||**$53,000|
* 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 $59,000. Contact Human Resources for additional information.