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CONTRIBUTION LIMITS RAISED FOR TAX-SHELTERED ANNUITY AND DEFERRED COMPENSATION PLANS

Old Dominion University faculty and staff participating in tax-sheltered annuities (403b) and deferred compensation (457) plans should be aware that contribution limits for tax year 2003 are increasing to the following: under age 50, $12,000; age 50 and over, $14,000.

If you want to increase your tax-sheltered annuity and/or your deferred compensation plan, please complete a new salary reduction agreement with your agent or come to the Department of Human Resources to complete a new agreement.

For more information, call 683-4760.

This article was posted on: December 13, 2002

Old Dominion University
Office of University Relations

Room 100 Koch Hall Norfolk, Virginia 23529-0018
Telephone: 757-683-3114
http://www.odu.edu/news

Old Dominion University is an equal opportunity, affirmative action institution.