IRS 403b Annual Contribution Limits

IRS 403b contribution limits

To change the amount of your contributions, complete the RIC 403b Salary Reduction Form. For more information about RIC, click here.

Year Regular Age 50+ 15-Yr Catch-Up** Total EE Total EE+ER***
  Lesser of 100% of compensation* or: Regular limit + $6,500 if age 50+ Regular limit + $3,000 (must be employed w/current employer 15+ yrs & meet other eligibility rules) Combined maximum if eligible for Age 50+ & 15-Yr Catch-Up limits Maximum of employer & employee combined contributions 
2021 $ 19,500 $ 26,000 $ 22,500 $ 29,000 $ 58,000
2020 $ 19,500 $ 26,000 $ 22,500 $ 29,000 $ 57,000

Please Note: The combined amount of all 403b and 401k pretax and post-tax Roth elective contributions in a tax year is limited to the IRS maximum contribution limits shown above. 

* Compensation is includible compensation as defined in the 403b Plan Document, and is generally your gross salary minus retirement (IPERS) deductionsin your most recent year of service. The maximum amount you may contribute is reduced by deductions for FICA, insurances, flexible spending accounts, employee organizations, assignments, and other like items. Contributions must not exceed the IRS maximum limits shown above.
** A calculation is required to determine the actual amount available under the 15-Year Catch-up. If an employee is eligible for both catch-ups in the same year, that year's 15-Year Catch-up must be used first, before contributing under the Age 50+ Catch-up. To be eligible to utilize the 15-year catch-up, a participant must have worked for the current employer full-time for at least 15 years, used less than the lifetime maximum of $15,000, and contributed an average annual contribution of $5,000 or less.
*** Total limit for employees age 50+ who contribute the full Age 50+ Catch-Up is $63,500 for 2020 and $64,500 for 2021.