Limits on retirement contributions remain the same for 2016; get the details

Faculty and staff can contribute toward their retirement savings on a pre-tax or Roth basis through payroll deduction.

The Internal Revenue Service has announced calendar year limits on retirement contributions, with no increases for 2016. Participants can contribute up to $18,000. Participants who are age 50 or older in 2016 can contribute up to an additional $6,000.

Contact Benefits Administration at 216.368.6781 or with questions.