It’s that time of year–to consider increasing your 401(a), 403(b), and/or 457(b) contributions. On Oct. 23, the IRS announced cost-of-living adjustments (COLAs) affecting the dollar limits for pension plans and other retirement-related items for the 2015 tax year. Most annual limits are going to increase in 2015 from $17,500 to $18,000. The “age 50” catch-up contribution limits are also increasing from $5,500 to $6,000.
If you are interested in increasing your employee retirement plan contributions, download a payroll deduction form by clicking on the below link. If you need assistance or have questions, contact Lisa Henry at ext.6-6240 or email@example.com
Payroll Deduction Form: