Retirement Topics - 457(b) Contribution Limits
A 457(b) plan’s annual contributions and other additions (excluding earnings) to a participant’s account cannot exceed the lesser of:
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100% of the participant's includible compensation, or
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the elective deferral limit ($17,000 in 2012 and $17,500 in 2013).
Increases to the general annual contribution limit:
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457(b) plans of state and local governments may allow catch-up contributions for participants who are aged 50 or older.
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Special 457(b) catch-up contributions, if permitted by the plan, allow a participant for 3 years prior to the normal retirement age (as specified in the plan) to contribute the lesser of:
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Twice the annual limit ($34,000 in 2012 and $35,000 in 2013), or
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The basic annual limit plus the amount of the basic limit not used in prior years (only allowed if not using age 50 or over catch-up contributions)
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Additional Resources:
Publication 4484, Choose a retirement plan for employees of tax exempt and government entities (schools, hospitals, churches, charities)
Page Last Reviewed or Updated: 2012-10-22
