What is the maximum allowable annual contribution to the voluntary Tax Sheltered Annuity Plan (403(b)) and/or Deferred Compensation Plan?
Depending on the employee’s age, the maximum annual contribution is as follows: Employees under the age of 50 during the respective calendar year: Year 2009 – $16,500.00 Year 2010 – $16,500.00 Employees reaching the age of 50 during the respective calendar year: Year 2009 – $22,000.00 Year 2010 – $22,000.00 Employees should consult the Payroll Department or the Benefits Department regarding eligibility for maximum contribution.
