Eligible employees have the option to set aside money for retirement on a voluntary basis in regular pretax contributions to the University retirement plan, up to the annual IRS limit. The annual maximum for 2024 is $23,000. If you are age 50 or over, a "catch-up" provision allows you to contribute additional $7,500 into your account. It is also important to note that Willamette's contributions do not affect your maximum annual contribution limit.
