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403(b) Contribution Limits for 2016

Congratulations! You are well into the second six weeks of school and hopefully good student behaviors are a well-oiled machine. But like any good teacher, you always have one eye in the present and another on the future–anticipating and planning. To help you out, below are the 2016 403(b) contribution limits.

Contribution limits run on a standard calendar year while you run on a school year calendar, so make any adjustments accordingly.

403(b) Retirement Plan Contribution Limits

Year Contribution Limit Max Employer Contribution Limit Additional Catch-Up Amount (age >50)
2016 $18,000 $35,500 $6,000
2015 $18,000 $35,000 $6,000

Knowing the contribution limits is one thing but knowing if you are contributing enough is another, right?  It’s a lot like knowing you need to teach writing and actually having a lesson plan! While retirement planning requires some due diligence, here is a calculator that can help get you started on the right track. You are busy making sure students have what they need for a successful future; and we work hard making sure you have what you need for a successful retirement.

401(k) Contribution Limits