The Internal Revenue Service has announced the dollar limitations for retirement plans for the 2022 tax year. The 403(b) & 457(b) contribution limits have increased from $19,500 to $20,500 with an age 50 catch-up contribution of $6,500, which remains unchanged.
Employees wanting to enroll into a Supplemental Retirement Account or make changes to an existing account may do so at any time. Visit Shared Services for additional information or call 304-293-6006.
The deadline to submit SRA changes or new account enrollments to begin on the first pay in January 2022 (Jan. 14) is Dec. 15 at 5 p.m. All forms should be submitted to SharedServices@mail.wvu.edu.