The IRS has adjusted the limits for 403(b) and 457(b) plans for the second year in a row!  

Please note the new limits:

• The 2013 limit on elective deferrals to a 403(b) Plan has been increased from $17,000 to $17,500. 
• The 2013 limit on elective deferrals to a 457(b) Executive Plan has been increased from $17,000 to $17,500.
• The Annual Compensation Limit has been increased from $245,000 to $250,000

For persons over 50 please note that the Age 50 catch-up has remained at $ 5,500.

For questions regarding the retirement plan, please contact Kristin McCarthy at kmm472@drexel.edu.