The contribution limits for employees who participate in the voluntary 403(b) and 457(b) plans has increased from $18,500 to $19,000 in 2019. The catch-up contribution limit for employees age 50 and over who participate in these plans remains unchanged at $6,000.
This means if you are under age 50 in 2019, the maximum amount you may contribute into your voluntary retirement plan is $19,000. If you are age 50 or above, the maximum amount you may contribute is $25,000 ($19,000 plus $6,000 catch-up). Employees interested in changing their retirement contribution amount may contact the Human Resources Department at x2470 or e-mail Ms. Kristen Bjorne at email@example.com and request a Salary Reduction Agreement.
Jake Lennard (effective 10/10/18)
To: Police Officer (P2) NMU Police Department
Annemarie Salo (effective 10/31/18)
To: Staff Nurse (P3) Health Center