Each year, the U.S. government adjusts the limits for retirement plans to reflect price and wage inflation, and changes in the law.

IRS Qualified Retirement Plan Dollar Limits

GUIDELINE 2014 2015
Section 401(a) Compensation Limit
Maximum compensation that can be considered in calculating benefits
$260,000 $265,000
Section 402(g) Elective Deferrals
Maximum employee pre-tax contribution to the 403(b) plan
$17,500 $18,000
Section 415 Catch-up Contributions
Maximum additional employee pre-tax contribution to the 403(b) for participants age 50 and over
$5,500 $6,000
Section 415 Defined Contribution Limit
Maximum employee plus employer contribution to the 403(b) plan
$52,000 $53,000
Section 415 Defined Benefit Limit
Maximum benefit from a defined benefit plan is the lesser of 100% of compensation or the dollar limit indicated above
$205,000 $205,000
Section 457 Deferred Compensation Plan
Maximum employee tax-deferred contribution to the 457(b) plan
$17,500 $18,000

Plan Years for UM Retirement Plans

January 1 – December 31
Supplemental Retirement Plan
Retirement Savings Plan II

Faculty Retirement Plan
Employees' Retirement Plan
Retirement Savings Plan
June 1 – May 31
Employees' Retirement Plan

Step-by-Step Guides

403(b) Retirement Savings Plan (RSP)
Click here for a guide to help you enroll in the 403(b) voluntary RSP.

Supplemental Retirement Annuity Plan (SRA)
Click here for a guide to help you with making online contributions to your SRA.