|55 ELM STREET
TELEPHONE: (860) 702-3480
|MEDICAL EXAMINING BOARD
for DISABILITY RETIREMENT
|HEALTH CARE COST
|STATE OF CONNECTICUT
RETIREMENT AND BENEFIT SERVICES DIVISION
OFFICE OF THE STATE COMPTROLLER
MEMORANDUM NO. 2002-08a
July 10, 2002
TO THE HEADS OF ALL STATE AGENCIES
|ATTENTION:||Personnel and Payroll Officers, Chief Administrative and Fiscal Officers and Business Managers|
|SUBJECT:||Revision to Memorandum 2002-08, Contribution Limits for Deferred Compensation and Tax Sheltered Annuity Plans|
The purpose of this memorandum is to advise of the revised contribution limits applicable to Internal Revenue Code ("IRC") Section 457, which governs the State of Connecticut Deferred Compensation Plan.
In March, the Job Creation and Worker Assistance Act of 2002 (JCWAA) was signed into law. JCWAA includes technical corrections to the recently enacted Economic Growth and Taxpayer Relief Reconciliation Act (EGTRRA). Specifically, JCWAA increases the contribution limits under IRC Section 457 retroactive to January 1, 2002, to the extent that they are now aligned with other similar plans. Contribution limits under IRC Section 403(b) are unchanged by JCWAA.
|Year||Maximum Annual Contribution Limit|
|2007 and after||Indexed for inflation, in $500 increments|
Questions related to this memorandum may be directed to the Retirement & Benefit Services Division, Employee Benefits Unit at (860) 702-3543. Participants should contact their Financial Services Organization representative for assistance with establishing personal limitations.
Return to Index of 2002 Comptroller's Memoranda
Return to Index of Comptroller's Memoranda
Return to Comptroller's Home Page