Annual Contribution Limits
2018 Limit Below Age 50 ($18,500)
Age 50 or Older ($24,500)
Per paycheck amount to reach 2018 limit, applies only for contributions starting 01/3/18
$740 per paycheck
$980 per paycheck
$1,480 per paycheck
If you’re contributing less than the maximum you’re eligible to contribute, now is the perfect time to consider an increase. Even small increases (for example, an additional 1% per pay period) can have a significant impact on your account balance over time. To see how an increase might help build your retirement income security, please try our Retirement Income Projection Calculator on the Plan website.
Remember, you now have two tax-advantaged ways to save: pre-tax, after-tax, or a combination of both. Pre-tax savings provide a tax advantage at the time of contribution, with taxes paid upon distribution. After-tax savings (also known as our Roth option) provide a tax advantage at the time of distribution, with no taxes paid on any account earnings (if the account is held for at least five years and you’re at least age 59½).
* The Age 50 or Older Catch-Up provision and the additional Catch-Up provision cannot be used in the same calendar year.