Patricia Denny
Sep 25 2003, 05:09 PM
Does anyone happen to have the 403(b) elective deferral limits since 1973? Basically, this is what I've put together so far:
2003 - $12,000
2002 - $11,000
2001 - $10,500
2000 - $10,500
1999 - $10,000
1998 - $10,000
1997 - $ 9,500
1996 - $ 9,500
1995 - $ 9,240 (? - not real certain of this one)
1994-1973 - ?
Can anyone help?
Yanikoski
Sep 26 2003, 02:08 PM
40(b) plans have always had a special exception to the elective deferral limits that applied to other plans, giving them a floor of $9,500. For as long as there has been a limit, therefore, it has been $9,500 for 403(b) plans, until the base 402(g) limit inflated beyond that point, in 1998. The numbers you have from 1998 forward are correct.
mbozek
Sep 26 2003, 02:29 PM
the $9500 limit was effective beginning 1987. Prior to 1987 the limit on elective deferrals was governed by the MEA which generally limited contributions to the lesser of 20% of net compensation or the 415© limit ($30,000).
Patricia Denny
Sep 26 2003, 02:33 PM
Thank you
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