Retirement Plan Contribution Limits

Summary:

• $23,500 for 2025 for all employer and employee contributions, both pre-tax and after-tax Roth.
• Plus an additional $7,500 for 2025 if you are age 50+ or an additional $23,500 for 2025 if you are age 62, 63, or 64. The age 62, 63, or 64 catch-up is a calculation of the employee’s under-utilized amount. Not all employees are eligible.

This limit applies to the following IU and non-IU plans combined:

• IU Tax Deferred Account Plan
• IU Health 401(k)
• 403(b) or 401(k) plan to which you make elective deferrals sponsored by any other employer
• If you own 50% or more of an employer (such as a faculty practice plan), that employer's defined contribution 403(b) or 401(k) plan
• Salary deferrals to a SARSEP (a simplified employee pension (SEP) plan set up before 1997 that includes a salary reduction arrangement)

Summary:

• $23,000 for 2024 for all employer and employee (both pre-tax and after-tax Roth) contributions.
• Plus an additional $7,500 for 2024 if you are age 50+ or an additional $23,000 for 2024 if you are age 62, 63, or 64. The age 62, 63, or 64 catch-up is a calculation of the employee’s under-utilized amount. Not all employees are eligible.

A participant cannot make both an age 50 or older catch-up contribution and an age 62, 63, or 64 catch-up contribution to the plan in the same year.

This limit applies to the following IU and non-IU plans combined:

• The IU 457(b) Retirement Plan.
• A 457(b) plan sponsored by an employer in the same control group as IU.
• A 457(b) plan you participate in that is sponsored by any other employer.

Summary:

Limits maximum annual compensation on which retirement contributions can be made to $345.000 for 2024 / $350,000 for 2025 (may not apply to all participants)

This limit applies to the following plans combined:

• The IU Retirement Plan, which is a 403(b).
• A 403(b) plan sponsored by employer in the same control group as IU.

This limit also applies to the following plans combined:

• The IU Retirement & Savings Plan, which is a 401(a).
• The IU Supplemental Early Retirement Plan, which is a 401(a). A defined contribution 401(a) plan (including 401(k)) sponsored by an employer in the same controlled group as IU.

This limit only applies to a small number of employees.

Summary:

• Lesser of 100% of an employee’s compensation or $69,000 for 2024 / $70,000 for 2025 for all contributions (employer, employee pre-tax, and employee after-tax Roth).

Generally, this limit applies in aggregate to plans of the same kind. This means that this limit applies to the following IU and non-IU plans combined:

• The IU Retirement Plan, which is a 403(b).
• The IU TDA Plan, which is a 403(b).
• The IRC 403(b) plan portion of the 18/20 Retirement Plan on behalf of a participant.
• A 403(b) plan sponsored by an employer in the same control group as IU. If you own 50% or more of an employer (such as a faculty practice plan), that employer's defined contribution 403(b), 401(a), 401(k) plan or SEP.

This limit also applies to the following IU and non-IU plans combined:

• The IU Supplemental Early Retirement Plan, which is a 401(a).
• The IU Retirement & Savings Plan, which is a 401(a).
• A defined contribution 401(a) plan or 401(k) plan sponsored by an employer in the same controlled group as IU.
• A Simplified Employee Pension (SEP) to which you or another employer contribute.

Age 50+ catch-up contributions and contributions made to the IU 457(b) Plan are not included when calculating this limit.