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Catch-Up Opportunities
 


Depending on the type of workplace savings plan your employer offers (and the planís specific guidelines), you may have additional opportunities to save for retirement. Select 403(b), 457(b), or 401(k) plan type below for more details.

We also offer easy-to-use contribution limit calculation tools for 403(b) and 457(b) workplace savings plan participants.

(Not sure if you have a 403(b), 457(b), or 401(a)/(k) plan? Learn how to find out.)

403(b) Plan Participants
 
  If your plan allows, you may be able to make annual Age 50+ Catch-up* contributions to your 403(b) plan beginning in the year you turn age 50.

In addition, the 403(b) Lifetime Catch-up is available to employees who have completed 15 or more years of service and have contributed, on average, less than $5,500 a year to their 403(b) plan. This catch-up provision allows participants to contribute up to $3,000 in 2010 in addition to the regular contribution limit (up to a lifetime catch-up limit of $15,000).

 
Tax Year If you're under age 50
basic salary deferral limit
If you qualify for the full annual 403(b) Lifetime Catch-up If you qualify for the Age 50+ Catch-up
but not the
403(b) Lifetime Catch-up
If you qualify for the Age 50+ Catch-up and the
403(b) Lifetime
Catch-up

 2010

$16,500

$19,500

$22,000

$25,000

Can you use both the Age 50+ Catch-up and the 403(b) Lifetime Catch-up in the same year?  

A qualified employee in a 403(b) plan who uses his or her full 403(b) Lifetime Catch-up entitlement for 2010 may also take advantage of the Age 50+ Catch-up in the same year. The total amount of Age 50+ Catch-up contributions that you make to all 403(b), 401(k), SEP, and SIMPLE plans in 2010 cannot exceed $5,500, even if you work for more than one employer. Your Age 50+ Catch-up contributions to governmental 457(b) plans are accounted for separately, however.

457(b) Plan Participants

 

If your employer is a governmental entity, you may be able to make additional annual Age 50+ Catch-up* contributions to your governmental 457(b) plan account beginning in the year you turn age 50, if your plan allows.

Governmental 457(b) Contribution Limits

Year Basic annual limit Age 50+
Catch-up limit
Maximum contribution limit for governmental 457(b) plans

 2010

$16,500

$5,500

$22,000


If you are within three years of retirement, you may be eligible to make Double Limit Catch-up contributions in each of the three calendar years before your normal retirement age, if you have under-contributed in previous years.

Using the Double Limit Catch-up, the total amount you can contribute to your 457(b) plan in 2010 is the lesser of two times the basic annual limit (see the table below), or the basic annual limit plus the total of underutilized salary deferrals from previous years.

457(b) Contribution Limits


Year

Basic annual limit

Double Limit
Catch-up

Maximum 457(b) contribution limit

 2010

$16,500

$16,500

$33,000

Note: The Age 50+ Catch-up is not available to participants in non-governmental 457(b) plans.

Employees in governmental 457(b) plans cannot use the Age 50+ Catch-up and the Double Limit Catch-up in the same calendar year.

401(k) Plan Participants

  If your plan allows, you may be able to make additional annual Age 50+ Catch-up* contributions to your 401(k) plan beginning in the year you turn age 50.

Maximum Annual Contributions

Year

Basic annual limit

Age 50+
Catch-up limit

Maximum 401(k) contribution limit

 2010

$16,500

$5,500

$22,000

*Participants may be eligible to make a catch-up contribution if they have deferred the maximum amount allowed under their plan(s) based on IRS and plan limitations and/or restrictions.

If you have any questions, please contact your benefits office or a Fidelity Retirement Services Representative at 1-800-343-0860, Monday through Friday, from 8:00 a.m. to midnight (ET).

Contributions to the plan are subject to the annual IRS limits.

Annual additions to the plan (your contributions and company contributions combined) may not exceed 100% of your pay or $49,000 for 2010 (whichever is less).



 

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