The IRS has announced limits for retirement plan contributions for the 2015 calendar year:
- Individuals can contribute up to $18,000.
- Employees age 50 or older can contribute an additional $6,000, for a maximum of $24,000.
To change your contribution amount for 2015, complete the Retirement Plan Election Form and return it to Human Resources by Dec. 31, 2014.
Learn more on the retirement plan website. If you have questions, contact the Employee Service Center at 343-7000 or human.resources@vanderbilt.edu.
Did you know?
While you’re thinking about your retirement contributions for 2015, keep in mind that the IRS requires employees to report outside retirement contributions. If you own a controlling interest in, and make retirement contributions with, an outside for-profit business, you will need to complete a 415(c) Aggregation Form.