FAQ – 403(b)/457 Costs and Surrender fees

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I want to maximize contributions to my 403(b). I am 56 years old. Is my maximum contribution amount the 8% of my salary that I am contributing to CalSTRS?

No, the contribution limits for your salary deferrals to a 403(b) plan are not affected by and have nothing to do with your contributions to CalSTRS. The maximum salary deferral (contribution amount) for 2015 is $1​8,​000 a year for most people, but up to $2​4,000 a year for those age 50 and older. The only other limitation for your 403(b) contributions is that you cannot contribute more than your actual earned income.

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