The IRS sets limits on the amount of money that can be contributed to your retirement plan(s). UF Benefits performs the vital task of ensuring regulatory compliance allowing current and future employees to enjoy the benefits of these plans.
Plan limits for your particular plans can be found below:
| Calendar Year 2020 |
Under 50 as of 12/31/2020 |
50 or Over as of 12/31/2020
(Includes $6,500 for Age-Based Catch-Up |
Voluntary 403(b) Plan(s)*
- Sum of TDA, Roth, and Voluntary ORP
- Does not include Mandatory Employee
Note: UF’s payroll system will automatically suspend your contributions when you reach your maximum. |
$19,500 |
$26,000 |
Voluntary 457 Deferred Compensation Plan
Note: UF’s payroll system will automatically suspend your contributions when you reach your maximum. |
$19,500 |
$26,000 |
415C
- Sum of Employer, Mandatory Employee, and Voluntary 403(b) Plans (TDA, Roth, and Voluntary ORP)
|
$57,000 |
$57,000 |
Special Pay Plan Limit
The amount eligible for this plan is 50 percent of the employee’s total fiscal year earnings (regular wages plus the leave cashout). |
$57,000 |
$57,000 |
| * An employee with 15 years of full-time equivalent service with UF may be eligible to exceed the annual limit on elective deferrals. Contributions made under the 15-year rule have an annual limit of $3,000 per year and a lifetime maximum of $15,000. Contact your investment provider company for further information regarding this provision and to determine if all criteria have been met. |
Calendar Year 2020 Worksheet to maximize voluntary retirement savings contributions
| Calendar Year 2021 |
Under 50 as of 12/31/2021 |
50 or Over as of 12/31/2021
(Includes $6,500 for Age-Based Catch-Up |
Voluntary 403(b) Plan(s)*
- Sum of TDA, Roth, and Voluntary ORP
- Does not include Mandatory Employee
Note: UF’s payroll system will automatically suspend your contributions when you reach your maximum. |
$19,500 |
$26,000 |
Voluntary 457 Deferred Compensation Plan
Note: UF’s payroll system will automatically suspend your contributions when you reach your maximum. |
$19,500 |
$26,000 |
415C
- Sum of Employer, Mandatory Employee, and Voluntary 403(b) Plans (TDA, Roth, and Voluntary ORP)
|
$58,000 |
$58,000 |
Special Pay Plan Limit
The amount eligible for this plan is 50 percent of the employee’s total fiscal year earnings (regular wages plus the leave cashout). |
$58,000 |
$58,000 |
| * An employee with 15 years of full-time equivalent service with UF may be eligible to exceed the annual limit on elective deferrals. Contributions made under the 15-year rule have an annual limit of $3,000 per year and a lifetime maximum of $15,000. Contact your investment provider company for further information regarding this provision and to determine if all criteria have been met. |
Calendar Year 2021 Worksheet to maximize voluntary retirement savings contributions
401(a)(17)
Maximum Compensation on which retirement contributions can be made |
Member of Florida Retirement System on or before 6/30/1996 |
Member of Florida Retirement System on or after 7/1/1996 |
| Fiscal Year 7/1/2020 – 6/30/2021 |
$427,440 |
$285,000 |
| Fiscal Year 7/1/2021 – 6/30/2022 |
TBD |
TBD |
