2025- LIMITS for 403(b) and 401(k) Plan   Maximum allowed contribution up to $23,500 a $500 increase. Using catch up Max $31,000 for those of you who will be age 50+ by December 31st, 2025.   Limit applies per person, per year, to all 403(b)/401(k) contributions.   ROTH 403(b) (or ROTH TSA’s) may be allowed by your district however each district may differ.  You may make allocations in any combination of 403(b) or ROTH 403(b).  Employees of the school district may have multiple 403(b) or TSA’s in any combination, Fixed Annuity, Index Annuity, Variable Annuity, Roth & Mutual Funds are your  investment choices.

Individual Retirement Plans -Traditional IRA Plans and ROTH IRA contribution limits for 2025 are $7,000 if younger than 50 and $8,000 for those individuals 50 and older. No change from 2024.   Please contact our office for phase out and limit restrictions based on Modified Adjusted Gross Income allowances and marital status.  RMD (Required Minimum Distributions)  are now required at age 73 for tax filers by the Traditional IRS. Contributions to IRA/ROTH 's past age 70 1/2 are now allowed if you have earned income from employment.  The age cap for contributions has been removed from Traditional IRA plans.  You should consult your tax advisor if you have questions regarding your tax situation.