Deferred Compensation Limit
The regular yearly contribution amount for Deferred Compensation has increased to
Deferred Compensation 50 Years & Over
Eligible employees age 50 and over can defer up to $6,500 in addition to their regular
contribution amount, for a combined total contribution limit of $26,000.
414(h) Retirement Contribution Reminder
If you are a member of a Retirement System (ERS, TRS, or TIAA-CREF), and are still
making 414 (h) Retirement Contributions (3% or more of gross pay), you must remember
to add these contributions to your Federal adjusted gross income on your NYS Personal
Income Tax return.
The amount you contributed in the last calendar year will be shown in Box 14 on your
W-2 Statement and should be included on Line 21 of Forms IT-201 OR IT-203.
Be sure that any tax preparation software you may use performs this calculation. Failure
to add this amount to your Federal adjusted gross income may result in additional
payments and interest due.