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Retirement Plan Limits
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.
Calendar Year Limits Fiscal Year Limits
Calendar Year Limits
| Calendar Year 1/1/2023 – 12/31/2023 | Calendar Year 1/1/2022 – 12/31/2022 |
|
|---|---|---|
| 403(b) Elective Deferrals Sum of Voluntary SUSORP, Tax-Deferred UF 403(b), and After-Tax Roth UF 403(b) Note: Does not include Mandatory Employee contributions | ||
| $22,500 | $20,500 |
| $30,000 | $27,000 |
| UF’s payroll system will automatically suspend these contributions when you reach this limit | ||
| 457 Elective Deferrals Deferred Compensation Plan | ||
| $22,500 | $20,500 |
| $30,000 | $27,000 |
| UF’s payroll system will automatically suspend these contributions when you reach this limit | ||
| Defined Contribution 415C Sum of SUSORP (Employer Allocations, Mandatory Employee, and Voluntary Employee), FRS Investment (Employer Allocations and Mandatory Employee), Tax-Deferred UF 403(b), and After-Tax Roth UF 403(b) | $66,000 | $61,000 |
Fiscal Year Limits
| Fiscal Year 7/1/2022-6/30/2023 | Fiscal Year 7/1/2021-6/30/2022 |
|
|---|---|---|
| 401(a)(17) Maximum compensation on which employer and mandatory employee contributions can be made | ||
| $461,680 | $432,740 |
| $305,000 | $290,000 |
| Special Pay Plan Limit Maximum amount eligible for this plan is 50% of the employee’s total fiscal year earnings (regular wages plus leave cashout) | $61,000 | $58,000 |