Common use of Catch-Up Clause in Contracts

Catch-Up. An employee with at least the equivalent of 15 years of full time service with the Colleges may “catch up” by contributing up to $3,000 each year above the General Limit towards the Life Time Catch-Up Limit of $15,000. Proof of eligibility from TIAA-CREF will be required. Age 50 Catch-up: In addition to the General Limit, there is a catch-up contribution available during a year for those employees who are at least 50 years of age by the end of that year. This catch-up contribution allows you to defer up to an additional amount under IRC 414(v). This additional amount may be deferred over the General Limit in addition to any Special 403(b) Catch-up deferrals. Please contact Human Resources if you would like more information on the salary reduction limits for the current year.

Catch-Up. An employee with at least the equivalent of 15 years of full time service with the Colleges may “catch up” by contributing up to $3,000 each year above the General Limit towards the Life Time Catch-Up Limit of $15,000. Proof of eligibility from TIAA-CREF will be required. Age 50 Catch-up: In addition to the General Limit, there is a catch-up contribution available during a year for those employees who are at least 50 years of age by the end of that year. This catch-up contribution allows you to defer up to an additional amount under IRC 414(v). This additional amount may be deferred over the General Limit in addition to any Special 403(b) Catch-up deferrals. Please contact Human Resources if you would like more information on the salary reduction limits for the current year.

Catch-Up. An employee with at least the equivalent of 15 years of full time service with the Colleges may “catch up” by contributing up to $3,000 each year above the General Limit towards the Life Time Catch-Up Limit of $15,000. Proof of eligibility from TIAA-CREF will be required. Age 50 Catch-up: In addition to the General Limit, there is a catch-up contribution available during a year for those employees who are at least 50 years of age by the end of that year. This catch-up contribution allows you to defer up to an additional amount under IRC 414(v). This additional amount may be deferred over the General Limit in addition to any Special 403(b) Catch-up deferrals. Please contact Human Resources if you would like more information on the salary reduction limits for the current year.like