IRS Limits for Retirement Plans
The following information is provided as an outline to the IRS Limits that apply to the MSU retirement plans.
- 403(b) Base Retirement Program Contribution Limits
- 403(b) Supplemental Retirement Program Contribution Limits
- 457(b) Deferred Compensation Plan Contribution Limits
Points To Consider
Type of Deferral
Employees may elect to defer a percentage of their pay every pay period. Deferrals continue unless an employee elects to cancel or change the deferral percentage, or the employee reaches their IRS limit.
- With a percent of pay, the actual dollar amount deferred may vary pay period to pay period if there is a change in base pay. If a pay increase occurs, your deferral will increase.
- If you would like help in converting a dollar amount into a retirement contribution percentage, please see our online percentage calculators to help you through the process.
Frequency of Pay Cycles
The number of pay cycles available in the year varies.
- Bi-weekly paid employees have 26 pay cycles in a calendar year.
- Monthly paid employees (with the exception of AY Faculty) have 12 pay cycles in a calendar year.
- Academic Year (AY) Faculty have 10 pay cycles in a calendar year. No pay is received in the months of June and July.