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Retirement Contribution Limits

December 14, 2010, Volume 57, No. 15

Have you thought about your retirement goals lately? With the end of the tax year approaching, there’s limited time left to maximize your pre-tax or Roth retirement contributions for the year.

For calendar year 2010, your combined pre-tax and Roth after-tax contributions generally cannot exceed $16,500 per year. However, you’re eligible for additional catch-up contributions beginning January 1 of the year in which you turn age 50 and/or when you have at least 15 years of service with the University. These limits will remain the same for calendar year 2011.

For information about retirement contribution limits, retirement planning resources, and more, visit the Human Resources website at www.hr.upenn.edu/Benefits/Retirement or call Penn’s Retirement Call Center at 877-PENN-RET (877-736-6738).

Related: Summary Annual Report for the University of Pennsylvania Retiree Health Plan

Almanac - December 14, 2010, Volume 57, No. 15