Voluntary Supplemental Retirement Plans- IMPORTANT REMINDERS
The IRS has announced the 2022 contribution limits for the Voluntary Supplemental Retirement Savings Plans:
Plan type Maximum employee contributions during CY 2022
401(k)/403(b) aggregate limit $20,500- changing from $19,500 in 2021
457(b) $20,500- changing from $19,500 in 2021
Catch-up contributions $ 6,600- changing from $6,000 in 2021
(Age 50+)
To enroll or change a supplemental retirement plan, please proceed to the Retirement Benefits webpage and scroll down to the Voluntary Supplemental Retirement Plans section.
The Deduction Authorization Forms for TIAA and Fidelity can be found under Quick Links. For Nationwide forms, please contact Savannah Bellamy with Nationwide directly at, raths5@nationwide.com or 443-468-5038.
When completing the forms the Payroll system is “Regular” or “Contract” based on your employment status and TU’s Agency Number is 360224. Please send completed forms securely via our secure file drop, https://fds.towson.edu/filedrop/Benefits.
Note: January 2022 deduction changes must be submitted to us no later than Wednesday, December 15, 2021.
Tags: Office of Human ResourcesCategorised in: General
This post was written by Lam, Irene M.