Tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. IRC Section 415 requires the 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 2022 to $20,500.
The catch-up contribution limit for employees age 50 and over who participate in these plans remains unchanged at $6,500.
To enroll or increase your UNC Supplemental Retirement Plan(s) contributions simply complete and provide one of the following forms to your University Benefits Administrator: