New Mexico Tech Contribution Form: 403b _457 contributions form.pdf (editable pdf)
Pre-tax contributions can be made through payroll deduction. Complete this form to initiate, modify, or cancel your contributions to the 403b plan or the 457 plan, and mail or email it to the Federal Tax Compliance Manager. The Tax Compliance Mgr will review and forward to payroll for processing.
Tax Sheltered Annuity Plans (403(b) Plans) The amount you can contribute pre-tax to the 403b plan each year is determined by the IRS.
- For 2014, the maximum amount is $17,500 if you are less than 50 years old.
- For 2014, the maximum amount is $23,000 if you are 50 yrs of age or older.
- For 2014, if you have at least 15 years service you may contribute an additional $3,000 per year above the age-based limits defined above (up to a career limit of $15,000 for this type of catch up)
New 403b plan participants must also create an account with the plan providers. Current plan providers are:
Fidelity Investments: www.fidelity.com/
Deferred Compensation Plan (457 plan)
The deferred compensation plan is managed by the State of New Mexico and administered by Nationwide Retirement Solutions.
An individual makes pre-tax contributions to the plan.
To create an account at the State of New Mexico 457 plan: http://www.pera.state.nm.us/deferredcomp.html
See the Federal Tax Compliance Manager
Budget and Analysis dept.
Room 100, Brown Hall