Open enrollment reminder, IRS increased 403(b) limits

Open enrollment for benefits takes place through Oct. 30. This is your opportunity to make changes to your medical, dental and flexible spending account elections for 2015. Changes made during open enrollment will be effective Jan. 1, 2015. For more information, refer to the all-hands email that was sent on Oct. 16.

IRS limits for 403(b) and catch-up contributions will increase in 2015. Effective Jan. 1, 2015, the annual 403(b) contribution will increase to $18,000. If you are over 50, you may contribute an additional $6,000 on a pre-tax basis to your 403(b). If you would like to make a change to your 403(b) contribution, go to FermiWorks to make your deferral change.

For more information, refer to the all-hands email that was sent on Thursday. The Benefits Office and your HR partner are available to answer your questions about open enrollment. Please email benefitsoffice@fnal.gov or call x3395 to make an appointment. You may also contact your division or section’s assigned HR partner.