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The IRS has announced that limits for 403(b) plans will not change for 2021. The annual base limit for 2021 remains at $19,500. Employees over the age of 50 or turning 50 in 2021 may make an additional contribution of $6,500 for a maximum contribution of $26,000.

Contribution changes need to be completed online.  Go to www.tiaa.org/canisiuscollege. The online system will accept future date changes.

  1. Click on “Log In” in the upper right hand corner and log in using your username and password for TIAA.
  2. Once logged into the system, click “Actions” at the top of the page
  3. Next click on the tab labeled “Contributions”
  4. Click on “Contribute to Your Retirement Plan”
  5. Click the yellow tab labeled “Manage My Contributions”
  6. Next, click the yellow tab “Manage Contributions”.

Enter the new percentage and select the date you would like the new contribution to begin and submit your change. You will receive a confirmation from TIAA at that time, which you can print for your records.

Submitted by: Dawn Rotterman, benefit manager, Human Resources