[October 26th, 2009]

The Internal Revenue Service recently announced that there will be no change to the Maximum Annual Contribution (MAC) limit for retirement plans in 2010. That means the MAC limit for the UC Retirement Savings Program's 403(b) Plan and/or 457(b) Plan remains $16,500.

For employees who are age 50 as of December 31, 2010, the limit will be $22,000. In addition, some employees may be eligible to make additional contributions under the lifetime catch-up provisions of the plans.

Employees can change their contributions for 2010 to each plan online (netbenefits.com) or by calling Fidelity Retirement Services (1-866-682-7787).

Those who wish to change payroll deductions for the first pay date in 2010 should check with their local payroll offices regarding deadlines for contribution changes.

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