- the limit on annual additions, or
- the elective deferral limit
Employees who are age 50+ at the end of the calendar year can also make catch-up contributions of $5,500 in 2014 and $6,000 in 2015 beyond the basic limit on elective deferrals.
The limit on annual additions (the combination of all employer contributions and employee elective deferrals to all 403(b) accounts) generally is the lesser of:
- $52,000 for 2014 ($53,000 for 2015), or
- 100% of includible compensation for the employee's most recent year of service.