This dollar limit is the maximum amount of elective deferrals that can be made to an eligible 457(b) plan by a participant. If the participant participates in more than one cash or deferred arrangement, this limit applies to the aggregate of the amounts contributed (excluding eligible 457(b) plans. For eligible 457(b) plans, a participant can defer up to the full limit in that plan on a separate basis. Note: deferrals cannot exceed compensation.
2016 Annual Catch-Up Contributions Limit
Annual limit may differ for individual participants in certain cases.
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This dollar limit applies to employees who are at least 50 years old or who will have attained age 50 by the end of the calendar year and are eligible to make elective deferral contributions to a 457(b) plan. This is a calendar year limit.
This allows you to make additional contributions during the three years prior to, but not including, the year in which you will reach normal retirement age based upon the total amount of contributions that you could have made in prior years, but did not.