University Of Michigan Benefits Office

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Benefits Office

Plans

Retirement Savings Plans

Your Tax Deferring Limit

Retirement Savings Plans
	Retirement Savings Plans Home
	Basic Retirement Plan
	Supplemental Retirement Accounts (SRAs)
	Extra to Basic vs. SRA
	New Hire SRA Calculator (PDF)
	TIAA-CREF Investment Funds
	Fidelity Investment Funds
	Enrollment Deadlines
	Compulsory Participation
	Cancel Enrollment
	Re-Enrollment
	Retirement Savings Plan Forms
	Quarterly Statements
	Rollovers & Transfers
	QDRO
	Cash Withdrawals
	Your Tax Deferring Limit
	Federal Income Tax
	Michigan Income Tax
	IRS 10% Penalty
	Myths and Misconceptions
	Military Leave
	MPSERS
	Your Retirement Income Choices
	How to Choose a Financial Planner
	IRS/SRA Max Limit Handbook
	Glossary
	Your W-2
	Temps

Questions
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	HR/Payroll Service Center

Are You Tax Deferring Elsewhere?

The IRC limit on elective deferrals to a 403(b) plan applies no matter how many employers and 403(b) plans you have. In addition, elective deferrals to a 401(k) plan must also be taken into account when determining how much you can contribute to the U-M plan. If you are making tax-deferred contributions through another employer’s retirement savings plan, it is wise to consult a qualified tax adviser to make sure that your combined contributions do not exceed Internal Revenue Code limits. This can be especially important if you are new to the University and contributed to another plan this year before coming to U-M.

Next: Spouse or Other Qualified Adult's Contributions

Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Benefits Office reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern. The University in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents.