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2016 Retirement Choice Period Extended (December 2015)

Your SECOND CHANCE for retirement plan enrollment is until December 10, 2015. It is important that you log into the new online portal during this time to make your retirement plan elections for 2016. If you do not complete enrollment, your contributions, as of January 1, 2016, will be automatically invested in an age-appropriate Vanguard Target Retirement Fund through the JHU Select Funds. If you have already enrolled, you do not need to do anything else.

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Tags: 2016 Changes, Benefits , Retirement Choice, 403b

2016 Contribution Limits for 403(b) Plan (December 2015)

The Internal Revenue Service recently announced the annual 403(b) limits for 2016. The limits which are staying the same as in 2015, are summarized below:

  • Pre-tax Elective Deferral
  • Age 50 & Over Catch-up
  • Overall by Employer/Employee
  • Annual Compensation
  • $18,000
  • $6,000
  • $53,000
  • $265,000

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Tags: 403b

Retirement Choice 2016 (November 2015)

In 2016, Retirement Choice will be different from any other - this year every employee will need to TAKE ACTION to make retirement plan choices for 2016. The annual benefits enrollment period for health and life plans - and the retirement plan - is October 14, 2015 through November 11, 2015. It is important that you log into the new online portal during this time to make your retirement plan elections for 2016.

Retirement Choice: Learn. Plan. Act.

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Tags: Retirement, Annual Enrollment, 403b

2015 Contribution Limits for 403(b) Plan (December 2014)

The Internal Revenue Service recently announced the annual 403(b) limits for 2015. They are as follows:

     • Pre-tax Elective Deferral - $ 18,000 (was $17,500 in 2014)
     • Age 50 & Over Catch-up - $ 6,000 (was $5,500 in 2014))
     • Overall by Employer/Employee - $ 53,000 (was $52,000 in 2014)
     • Annual Compensation - $265,000 (was $260,000 in 2014)
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Tags: Benefits , Retirement, 403b

2014 Contribution Limits for 403(b) Plan (December 2013)

The Internal Revenue Service recently announced the annual 403(b) limits for 2014. They are as follows:

•     Pre-tax Elective Deferral      $ 17,500 (same as 2013)
•     Age 50 & Over Catch-up      $ 5,500 (same as 2013)
•     Overall by Employer/Employee      $ 52,000 (was $51,000 in 2013)
•     Annual Compensation      $ 260,000 (was $255,000 in 2013)

If you are currently contributing to the 403(b) retirement plan, your contribution will automatically continue in 2014 without the need for a new 403(b) Contribution Agreement (with the exception of participating Temporary, Limited and Casual employees who must submit a new agreement annually). Remember, if you choose to contribute the maximum amount and you will be turning 50 during 2014, your contribution will automatically include the additional $5,500 catch-up. The university will no longer offer the 15-year catch-up contribution effective January 1, 2014. If you are directly impacted, you will receive a separate notification regarding this decision. More...

Tags: Retirement Education, 403b, myRewards

Loan Provisions Under 403(b) Plan (December 2013)

A review of the loan provisions offered by the 403(b) investment providers has indicated increasingly low utilization of VALIC loans. Therefore, no new loans will be offered to participants through VALIC effective January 1, 2014. Loans will continue to be offered to participants through Fidelity and TIAA-CREF under the 403(b) Plan. You may contact Fidelity and TIAA-CREF directly if you are interested in applying for a loan from your 403(b) voluntary contributions. More...

Tags: Retirement Choice, 403b

April–June Appointments Available with 403(b) Investment Plan Vendors (May 2013)

Do you want to participate in the 403(b) retirement plan but don’t know how to begin? Are you getting closer to retirement and want to be sure you are building the kind of retirement you want? One-on-one appointments with our 403(b) plan representatives are being offered at Homewood, East Baltimore, Bayview and Eastern. The individual sessions are free of charge to university faculty and staff.

The schedule for the second quarter vendor visits is available on the Benefits website. Contact the investment company directly to make your appointment.

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Tags: Benefits , Retirement, 403b

2013 Contribution Limits For 403(b) Plan (December 2012)

The Internal Revenue Service recently announced the annual 403(b) limits for 2013. They are as follows:

      • Pre-tax Elective Deferral ---- $ 17,500 (was $17,000 in 2012)
      • Age 50 & Over Catch-up ---- $ 5,500
      • Annual Compensation ---- $ 255,000 (was $250,000 in 2012)
      • Overall by Employer/Employee ---- $ 51,000 (was $50,000 in 2012)

If you are currently contributing to the 403(b) retirement plan, your contribution will automatically continue in 2013 without the need for a new 403(b) Contribution Agreement (with the exception of participating Temporary, Limited and Casual employees who must submit a new agreement annually). Remember, if you choose to contribute the maximum amount and you will be turning 50 during 2013, your contribution will automatically include the additional $5,500 catch-up. Your 403(b) maximum may also increase if you will have completed 15 or more years of JHU service by the end of 2013. If you elect the maximum contribution and you are eligible for the 15 Year Rule, this additional amount of up to $3,000 will automatically be included. More...

Tags: Benefits , 403b

Free Vanguard on the Road (VOTR) Webinars Available (June 2012)

Your 403(b) retirement plan can be a powerful tool in building your financial future. Vanguard offers free monthly webinars to help you learn how to get the most out of your plan. With the Vanguard on the Road program, you can receive financial education from the comfort of your desk or from any computer with an internet connection. More...

Tags: Benefits , Retirement, 403b

April–June Appointments Available with 403(b) Investment Plan Vendors (May 2012)

Do you want to participate in the 403(b) retirement plan but don’t know how to begin? Are you getting closer to retirement and want to be sure you are building the kind of retirement you want? One-on-one appointments with our 403(b) plan representatives are being offered at Homewood, East Baltimore, Bayview and Eastern. The individual sessions are free of charge to university faculty and staff.

The schedule for the second quarter vendor visits is available on the Benefits website. Contact the investment company directly to make your appointment. More...

Tags: Retirement Choice, Retirement, 403b

Free Vanguard on the Road (VOTR) Webinars Now Available (May 2012)

Your 403(b) retirement plan can be a powerful tool in building your financial future. Vanguard offers free monthly webinars to help you learn how to get the most out of your plan. With the Vanguard on the Road program, you can receive financial education from the comfort of your desk or from any computer with an internet connection. More...

Tags: Benefits , Retirement, 403b

American Century Investments No Longer Available to New Investors after April 30, 2012 (April 2012)

In an effort to streamline the number of investment products offered to 403(b) plan participants, the university will no longer offer American Century's investment products to new investors after April 30, 2012. Participants who invest in American Century prior to this date can continue to contribute to American Century. More...

Tags: Retirement, 403b

2012 403(b) CONTRIBUTION LIMITS (January 2012)

The Internal Revenue Service recently announced the annual 403(b) limits for 2012. They are as follows:

•Pre-tax Elective Deferral                  $ 17,000
•Age 50 & Over Catch-up                  $ 5,500
•Annual Compensation                    $ 250,000
•Overall by Employer/Employee      $ 50,000

If you are currently contributing to the 403(b) retirement plan, your contribution will automatically continue in 2012 without the need for a new 403(b) Contribution Agreement (with the exception of participating Temporary, Limited and Casual employees who must submit a new agreement annually). More...

Tags: Benefits , 403b