Retirement

Retirement Planning

• Checklist for Retirement
• Individualized Retirement Counseling
• Pre-Retirement Seminars

Retiring Employees

• Information for Retiring Employees

Retirement Plans

• Basic Retirement Plan 401(a)
• Supplemental Retirement Plan 403(b)

• Deferred Compensation Plan 457(b)

2020 Annual Limits 

The IRS has announced the 2020 annual limits for the 403(b) and the 457(b) retirement plans. The 2019 maximums are as follows:

For the 403(b) plan, the annual limit is $19,500 for those under the age of 50 and $26,000 for those 50 and older.

For the 457(b) plan, the annual limit is $19,500 for those under the age of 50 and $26,000 for those 50 and older. In order to participate in the 457(b) plan, a faculty or staff member must be on target to max out their 403(b) plan for the 2020 year.