Retirement Contribution Limits for 2018 Announced

The IRS has announced that the 403(b) regular elective deferral contribution limit will increase for 2018:

• The regular elective deferral limit is $18,500 per calendar year, increased from the previous $18,000.
• The catch-up contribution limit for employees age 50 and over remains the same at $6,000 per calendar year.

And as an education organization, if you have 15 or more years of full-time service to Heartland AEA, you may be eligible for an additional catch-up contribution of up to $3,000 per calendar year (lifetime maximum of $15,000). A calculation is required to determine the actual amount, if any, available under this special catch-up provision. If you have any questions, contact Steve Jordan, Senior Payroll Specialist, at ext. 14908.