Introduction to catch-up contributions

UC helps you save for your future with the UC Retirement Savings Program. Because you have two ways to contribute pretax and/or Roth dollars to your Savings Plan accounts – the UC 403(b) and 457(b) Plans – you can already double the IRS limit of $23,000 for 2024.

But if you're 50 or older, the plans let you contribute even more.

REGULAR CATCH-UP CONTRIBUTIONS

If you are age 50 or older and making the maximum Plan contributions or reaching the IRS limit, you can make additional pretax and/or Roth “catch-up” contributions. That means you can contribute up to $30,500 in each plan in 2024.

LIFETIME AND SPECIAL CATCH-UP CONTRIBUTIONS

As an added bonus, the UC 403(b) and 457(b) Plans have “lifetime” and “special” catch-up provisions that may let you contribute even more. Here’s how they work:

  • No matter what age you are, lifetime catch-up contributions for the 403(b) Plan allow you to contribute an additional $3,000 per year, up to a lifetime maximum of $15,000. There is no minimum age requirement, as long as you have at least 15 years of service with UC. Once you reach age 50, you can make regular pretax and/or Roth contributions, regular catch-up contributions, and lifetime catch-up contributions, up to IRS limits.
  • If you’re nearing retirement, special catch-up contributions for the 457(b) Plan allow you to contribute up to twice the current year’s regular contribution limit during each of your last three years at UC.