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Benefit Options
Enrollment Information
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Retirement
Pretax Limits for Savings Plan Contributions
The Internal Revenue Service determines the maximum annual contribution
that you can make to the UPMC Savings Plan on a pretax basis. For
2009, the maximum is $16,500. For 2007 and 2008, the maximum is
$15,500. Staff who will be age 50 or older in 2009 can take advantage
of an additional pretax savings opportunity through a $5,500 “catch-up”
contribution, increasing the maximum pretax contribution to $22,000.
Once the pretax limit is reached, the pretax deduction will automatically
be taken on an after-tax basis for the remainder of that year. On
Jan. 1 of the following year, your contribution will automatically
resume on a pretax basis, provided that you make no changes to your
contributions.
Check back here each November to see if the pretax limits change
for the following calendar year.
Retirement homepage
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