The yearly general limit amount allowed for the 403(b) Salary Reduction Agreement and the 457(b) will change effective Jan. 1 to $17,000 for those younger than 50 and $22,500 for those who turn 50 or older in 2012.
Any changes to your deduction for January 2012 must be received in the UNMC Benefits Office, ZIP 5470, no later than Friday, Dec. 30.
Important note
If you participate in the 457(b), remember you must sign a new salary reduction agreement each year.
For a 457(b) deduction to be taken in January, you must ensure:
- You will be on track to reach at least the general limit of $17,000 by Dec. 31;
- The UNMC Benefits office must receive a new 457(b) salary reduction agreement for 2012 in their office by Dec. 30.
Salary reduction agreement forms can be obtained at the University’s Benefits Website.