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.