Category Archives: Benefits

New Rates: Tax Deferred Savings Plans – 2013 Limits

 

Effective for tax year 2013, eligible employees can contribute up to $17,500 into the 403 (b), 401 (k) and 457 Plan or:

  • Combination of 401k/403b ($17,500) and 457 ($17,500) = $35,000
  • Catch-up provision for all three plans for employees over the age of 50 = $5,500
  • Catch-up provision for the 403b plan for employees who have worked at least 15 years may be eligible to contribute an additional $3,000 per year for up to 5 years for a total of $15,000.

Please note, participants may contribute to both a 403 (b) and 401 (k) plan in the same tax year, however, combined contributions across both plans cannot exceed $17,500.00.

Employees who wish to contribute using the catch-up provision must demonstrate eligibility by completing the CSU Maximum Contribution Worksheet and returning it to the Benefits Unit in Human Resources.

You can obtain the CSU Maximum Contribution Worksheet by visiting CSU Systemwide Benefits Portal.

 

 

CalPERS Dependent Eligibility Verification (DEV) Project

 

The CalPERS Dependent Eligibility Verification (DEV) Project is in progress and the Verification Phase will take place from July 26, 2013, through September 12, 2013. During this phase employees enrolled in a CalPERS health plan will be required to provide documentation to HMS Employer Solutions (HMS), in order to verify that the dependents enrolled in their health plans are CalPERS eligible dependents.

Employees will receive a letter directly from HMS with details and instructions on how and where to submit this documentation.

Learn more about the CalPERS DEV Project and the list of required documents on the CalPERS website.