403(b) maximum contributions to increase for 2013

Effective Jan. 1, 2013, 403(b) participants can contribute a maximum of $17,500 (an increase from $17,000 in 2012) to their supplemental retirement plan for the 2013 calendar year.

Employees age 50 and older, or employees who will become age 50 at any time during 2013, may make elective deferred contributions beyond the $17,500 limit in 2013—an additional $5,500. The limit for the catch-up contribution did not increase for 2013 and will apply only to those employees who are making the maximum contribution of $17,500.

For more information, visit http://wdrs.fnal.gov/benefits/403b.html.