Retirement plan limit increases, contribution changes due Jan. 5

Retirement plan limit increases, contribution changes due Jan. 5

The 2009 limitations for the 403(b) retirement plan are $16,500 for those under age 50 and $22,000 for age 50 and older.

To increase contributions to the plan, complete a new salary reduction agreement, available at http://people.rice.edu/emplibrary/SRA%202008.pdf. Return the agreement to Human Resources, at MS 92 or the third floor of Allen Center, no later than Jan. 5 for a Jan. 1 effective date.

Note there is a new option available to allow Human Resources to automatically maximize your contributions each year.

For more information about your options for saving for your retirement at Rice, visit Rice’s retirement Web site, http://people.rice.edu/benefits.cfm?doc_id=7670.