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Retirement Plan Updates for 2019

January 02, 2019 8:30 AM

As a reminder, there are new increases to the maximum employee contributions to your retirement plans for 2019 for the tax-deferral 403(b) and 457(b) plans.

Tax-Deferral 403(b) plan – The maximum employee contribution to your retirement plan is increased to $19,000.  If you are age 50 or older by the end of 2019, you can contribute an additional $6,000, for a total possible contribution of $25,000.

457(b) plan – Employees earning at least $210,000 in calendar year 2018 or expected to earn at least $210,000 in calendar year 2019 are eligible to participate in the 457(b) plan.  The maximum elective contribution for 2019 is $19,000.  There are no special Age 50 catch up provisions under this plan.

Note: to make any changes to your deferral elections for the retirement plan for 2019, you will need to wait until after your final paycheck in 2018.  For employees paid on a bi-weekly basis – that means waiting until after December 21, 2018.  For employees paid on a monthly basis – please wait until after December 31, 2018.  

Changes can be made through the employee self-service application on the Gibson online.

You may visit the retirement page for more information and to learn about plan types, eligibility, how to enroll and how & when to make changes to your retirement account.

For questions, please contact the Office of Human Resources by email at or by phone at 504-865-4748 (HR4U).