The Internal Revenue Service’s maximum limits for supplemental retirement account contributions will increase for the 2023 calendar year. The new maximum for the calendar year 2023 is $22,500, with employees aged 50 and above eligible to contribute an additional $7,500 in “catch-up” funding. Supplemental retirement account accounts include the 401(k) PERSI Choice Plan, the 403(b), Roth 403(b) and the 457(b). The 457(b) account has its own annual limit of $22,500. All other plans are combined for $22,500 per year.
More information on supplemental retirement plans can be found on the benefits website. To make changes to your supplemental retirement account, please contact benefits@boisestate.edu.