Effective January 1, 2015, the maximum total annual contribution limit is $53,000.
The Elective Deferral limit and Catch-Up contributions limits for 2015 are: $18,000.00 and $6,000.00, respectively.
Because ordained ministers may receive part of their distributions after retirement as a tax-exempt clergy housing allowance, it is generally very advantageous for clergy of all denominations to maximize their retirement savings through their denominationally-sponsored plan.
Read also: Eligibility and Participation.
And, an Employee who has successfully completed a ministerial internship as determined by the Committee shall be deemed to have completed a Year of Eligibility Service.
For calendar year 2015, employees may contribute up to $18,000 (plus $6,000 if they are eligible to make Catch-Up Contributions).
If your Employer committed to Auto-Enrollment, ask them any questions you may have and review Auto-Enrollment and the Retirement Plan.
A Contribution Remittance Form must accompany all contributions sent to TIAA-CREF. Local Plan administrators/Treasurers/leaders may contact retirementplan @ uua.org to acquire the appropriate form and become established as the authorized remitter for your location.
For more information contact retirementplan @ uua.org.
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Last updated on Friday, December 19, 2014.
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