Is there a maximum contribution amount?
Yes. In 2015, you can contribute a maximum of $18,000. If you are age 50 or older, you may be able to contribute an additional $6,000 in catch-up contributions. (Note: There is also a special rule for eligible employees with 15 or more years of full-time service. They may be able to contribute up to $3,000 more for five years, or a maximum of $15,000.)
Contribution limits are indexed to inflation and may change in future years. Note that if you participate in both a 403(b) and 457 plan, you can contribute the maximum to both.
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