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2010 Annual tax deferral limits will remain the same:  

Employee contributions will be limited to the lesser of 100% of earnings or:

 

403(b)

457(b)

Elective Deferral Maximum:

$16,500.00

$16,500.00

Age 50 Catch-up Limit:

$5,500.00

$5,500.00
Employees can elect to contribute the full amount to both the 403(b) plan and the 457(b) plan.

To change your current contribution or to begin a tax deferral agreement:

  • You must complete a new 403b voluntary salary reduction agreement form and/or a new 457b voluntary salary deferral agreement form to indicate the amount you wish to contribute.
  • To start a tax deferral for the first time, you must also complete the appropriate vendor application form to tell the vendor where you want to invest the funds.
  • Forms are available on the HR website: http://www.cmich.edu/HR_Home/Benefits_and_Wellness/Retirement.htm

      DEADLINE for the first pay date in January 2010:

      Tax deferral election forms received in the Benefits & Wellness office by December 9th, 2009 will be reflected in the first paycheck of January 2010 (1/07/10 for Bi-weekly & 1/15/10 for semi-monthly). 

      Any forms received in the Benefits and Wellness office after December 9th, 2009 will be processed on the next available pay period in January.

SHRM Student Organization takes 2nd in Regional HR Games

Congratulations to Jackie Glasgow, Nicole McParlan, and Courtney Schrader for placing second in the North Central Regional Student Conference HR Games. The competition was held on March 28, 2009 at St.Thomas University in Minneapolis, Minnesota. There were 35 competing teams, with first place going to a team from Indiana Tech. This was also the first HR team from CMU to travel to the Regional Competition.

2009 Regional HR Games

From left to right is Jackie Glasgow (Senior), Nicole McParlan (Junior), and Courtney Schrader (Junior).
(Posted 4/2/09)