New 2013 Retirement Plan Contribution Limits
The IRS has adjusted the limits for 403(b) and 457(b) plans for the second year in a row!
Please note the new limits:
The 2013 limit on elective deferrals to a 403(b) Plan has been increased from $17,000 to $17,500.
The 2013 limit on elective deferrals to a 457(b) Executive Plan has been increased from $17,000 to $17,500.
The Annual Compensation Limit has been increased from $245,000 to $250,000
For persons over 50 please note that the Age 50 catch-up has remained at $ 5,500.
For questions regarding the retirement plan, please contact Kristin McCarthy at firstname.lastname@example.org.