General Limit

Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement for 2001 is $10,500. The limit for 2002 is $11,000. This limit applies without regard to community property laws.

Excess elective deferrals. If the amount contributed is more than the allowable limit, you must include the excess in your gross income for the year contributed. This is explained in chapter 11.

Previous| First | Next

Publication Index | IRS-Forms Main | Home