The Internal Revenue Service has announced its annual update to contribution limits for pension and retirement plans for the 2023 tax year. Section 415 requires these limits to be adjusted annually for cost-of-living increases.
The limit on contributions by employees who participate in 401(k), 403(b), and most 457 plans increased in 2023 to $22,500 while the catch-up contributions for employees age 50 and over increased to $7,500.
To enroll or increase your UNC supplemental retirement plan contributions simply complete and provide one of the following forms to your University Benefits Administrator:
