The Internal Revenue Service has announced its annual update to contribution limits for pension and retirement plans for the 2024 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 2024 to $23,000 while catch-up contributions for employees age 50 and over remains at $7,500.
To enroll or increase your UNC Supplemental Retirement Plan(s) contributions simply complete and provide one of the following forms to your constituent institution’s Benefits office:
UNC 403(b) Salary Reduction Agreement
UNC 457(b) Salary Deferral Agreement
