[November 14, 2011]

The Internal Revenue Service recently announced the 2012 Maximum Annual Contribution (MAC) limit for retirement plans. That means the MAC limit for the UC Retirement Savings Program's 403(b) Plan and/or 457(b) Plan will increase to $17,000.

For employees who are age 50 as of December 31, 2012, the limit will be $22,500. In addition, some employees may be eligible to make additional contributions under the lifetime catch-up provisions of the plans.

Employees who wish to maximize their contributions to each plan may want to increase contributions for 2012 based on these contribution limits. Call Fidelity Retirement Services (1-866-682-7787) for details.

Those who wish to change payroll deductions for the first pay date in 2012 should check with their local payroll offices regarding deadlines for contribution changes.

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