Today's Message
Posted: Tuesday, December 9, 2008Supplemental Retirement Accounts
The maximum amount an employee may contribute to his or her Supplemental Retirement Account has been increased to $16,500 for 2009. Employees 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.
