Segal's Melanie Walker, Senior Vice President of the National Compliance Practice, gave guidance on US News & World's article about 403(b) plans.
From the article:
"The contribution limit for 403(b) plans and 401(k) plans is the same in 2019. However, the 403(b) plan also includes a special catch-up contribution for long-term employees with at least 15 years of service.
" 'This is in addition to the regular age 50 catch-up contributions available to both 401(k) and 403(b) plans,” says Melanie Walker, senior vice president of the national compliance practice at Segal Consulting in Denver. This makes it possible to maximize retirement savings near the end of your career.
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