Basic Limit :
The basic limit is 100% of your includible compensation up to
Service Based Catch-Up Limit :
Under IRC Section 402(g), if you have been employed by the District greater than or equal to fifteen (15) years and your contributions to all plans (403(b), 401(k), etc.) have not averaged greater than or equal $5,000.00 per year (total past contributions divided by past years of service), you may be able to contribute up to an additional $3,000 per year. The total aggregate dollar amount of this catch-up provision over your career is calculated by adding together the catch-up amounts utilized for all years.
Your eligibility for this election as determined by years of service is:
Your average annual contribution for years prior to
Your aggregate 402(g) catch-up total for years prior to
Your 402(g) catch-up allowed for
(Amount will be $0.00 if employed less than 15 years in the District.)
Age Based Catch-Up Limit (Age 50+):
(If you date of bitrth falls on or before
you contribute an additional
Amount will be $0.00 if you are less than fifty years of age.)
Total of Basic, Age Based and Service Based limits:
Your 403(b) TSA limits are not reduced by any other factors:
Your total 403(b) contribution limit for
Your MAC is based on the information below.
Please review it carefully.
- Age at the end of the year:
- Years with Employer as of 12/31/2023:
- Past Contributions with current employer through
- 403(b) TSA and 401k:
- Prior 402(g) election amount over limits used in previous prior years:
TSA Consulting Group, Inc. certifies the above calculation meets the IRS guidelines only for the year it was calculated, assuming that all information provided by the employee and/or the employer is accurate and complete. These calculations have been provided for informational purposes only. Participants are responsible for ensuring that total annual contributions to all 403(b), 457 or 401(k) accounts do not exceed the maximum allowable contribution limits.
Maximum allowable contribution limits should be reviewed each year to ensure that all contributions remain within IRS Guidelines
- Representative :
- Employee :
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