Latest News Archive
- Deferral limits remain unchanged for 2014. The IRS announced that pension limitations governing the 457 plans will remain unchanged because the increase in the Consumer Price Index did not meet the statutory thresholds for its adjustment. Therefore, the elective deferral (contribution) limit for employees who participate in deferred compensation remains unchanged at $17,500. The catch-up contribution limit for employees aged 50 and over who participate will remain unchanged at $5,500. 11/4/2013
- Investment changes: Three common trust funds were added January 2, 2013, to the investment option lineup and three existing investment options are changing investment structure from mutual funds to separate accounts.
- Participant loans: Plan loans allow participants to access money in their plan account for a financial emergency or a major purchase before they retire. Participants must have a minimum balance of $2,000 in order to apply. Interested participants must contact T. Rowe Price at rps.troweprice.com or at (888) 457-5770 to initiate a loan.