Announcements
Posted: Thursday, December 11, 2008Supplemental Retirement Accounts
From the Vice President for Finance and Management
The maximum amount an employee may contribute to his or her Supplemental Retirement Account has been increased to $16,500 for 2009. Employees who are age 50 or older or who have more than 15 years of service may be eligible to defer an even higher amount under IRS authorized “catch-up” provisions. Employees may also contribute additional money above the maximum through the New York State Deferred Compensation Plan.
Those who wish to change their contribution levels must complete a Salary Reduction Agreement, available on the Human Resource Management Web site (under Forms), or in the Payroll Office, Cleveland Hall 408. Completed agreements must be received in the Payroll Office byFriday, December 19, for the change to be reflected in the first paycheck of 2009. Please contact Al Galone, 878-4124, for more information.
