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2015 403(B) Contribution Limits

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For 2015
$18,000 in regular contributions
additional $6,000 if over age 50
note: limits were $17,500 and $5,500 respectively for 2014.

15-Year-Rule
Employees with 15 years or more of service with an employer may be eligible to contribute an additional $3,000 per year up to a lifetime maximum catch-up of $15,000. For more information on this provision consult your plan administrator. You can learn more about this rule here.

For more information on the 403(b) see 403(b)wise

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Question 1. If you are 50 or older, how many years can you contribute the extra $5,500. to the 403(b)?

 

Question 2. Does the $17,000 plus the $5,500. apply to the 457b as well? (a total of $45,000 per year for both accounts?)

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Yes it does probaly. You can max out both. Also look into the catch-up contributions you can make after 15 years of service. Get a roth too.

 

 

 

 

Question 1. If you are 50 or older, how many years can you contribute the extra $5,500. to the 403(b)?

 

Question 2. Does the $17,000 plus the $5,500. apply to the 457b as well? (a total of $45,000 per year for both accounts?)

 

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