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ICMA
ICMA
Contribution Amounts
The contribution amounts for the ICMA 457 Plan have increased from $8,500 to the following:
| Year | Contribution Limit |
| 2002 | $11,000 |
| 2003 | $12,000 |
| 2004 | $13,000 |
| 2005 | $14,000 |
| 2006 | $15,000 |
| 2007 | Increased by $500 increments |
Catch-Up Provision
Those eligible for the Catch-Up Provision who are within 3 years of normal retirement age are able to Catch-Up twice the contribution limit set each year provided there are years the participant did not contribute the maximum available.
New Age 50 Catch-Up Provision
Employees who are age 50 or older may make additional "Catch-Up" contributions to the 457 Plan each year.
| Year | Contribution Limit |
| 2002 | $1,000 |
| 2003 | $2,000 |
| 2004 | $3,000 |
| 2005 | $4,000 |
| 2006 | $5,000 |
| 2007 | Increased by $500 |
REMINDER: You may not participate in the Catch-Up and the New Age 50 Catch-Up simulatenously.
Rollover Between Plans
Participants will be able to move their 457 Plan when they are eligible (example: termination of employment) between retirement plans in the public, private, education, and nonprofit sectors. Money may be moved between a 401K, 403B, 457, and Traditional IRAs.
