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Who is eligible for a 403(b) catch-up contribution?

Some plans may have specific eligibility requirements as well. For example, employees with at least 15 years of service may be eligible to make additional contributions to a 403 (b) plan in addition to regular catch-up contributions for participants based on age. Are Catch-Up Contributions Worth It?

Who can contribute to a 403(b) plan?

Employees with at least 15 years of service may be eligible to make additional contributions to a 403 (b) plan in addition to the regular catch-up for participants who are age 50 or over. See the discussion of 403 (b) contribution limits for details. You can make catch-up contributions to your traditional or Roth IRA up to $1,000 in 2015 - 2023.

What if the 403(b) plan doesn't have the age 50 catch-up?

If the 403 (b) plan doesn’t have the age 50 catch-up and an employee made deferrals over the 402 (g) limit (or the 402 (g) limit adjusted for a 15-year catch-up), find out how to correct this mistake. While the age 50 catch-up is subject to an annual limit, the 15-year catch-up is subject to a use test, lifetime limit and an annual limit.

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