2026 Retirement Contribution Maximums & Universal Availability
To Faculty and Staff:
The State University of New York (“SUNY”) provides employees with the opportunity
to save for their retirement through the SUNY Voluntary 403(b) Savings Plan (the “VSP”).
Participation in the SUNY Voluntary Savings Plan (VSP) is a great way to build your
retirement savings through pre-tax and/or post-tax payroll deduction contributions.
Whether you want to enroll in the plan for the first time, or you are already enrolled
but wish to change the amount of your deferral, you can do so through the SUNY online
enrollment and management system at www.retirementatwork.org/suny.
The IRS Retirement Plan maximum contribution limits for 2026 have been released. The
new annual maximums for employees during the 2026 plan year are:
- Under age 50: standard annual contribution limit up to: $24,500
- Age 50 or older: can contribute an additional $8,000* from the standard annual contribution limit,
for a maximum of: $32,500
- Individuals Age 60-63 (age at the end of the calendar year): can contribute an additional $11,250* from the standard annual contribution limit,
for a maximum of: $35,750
- For Individuals Age 64 and older: the Age 50+ maximum limits apply
*2025 FICA earnings $150,000 and over, beginning in 2026 ALL catch-up contributions must be Roth (after-tax). (FICA earnings can be found in box 3 on your W-2 form). Investment provider is available
to assist you with questions on Roth. Education and assistance will be available throughout
2026. Please also consult with a tax advisor as Roth (after tax) contributions could
affect your tax planning.
Please be sure to visit Retirement at Work to view your elections and make any updates to your contribution amounts.
Any contribution amount above the new IRS maximum of $24,500 will need to be reentered
in Retirement at Work for the 2026 plan year. Failure to do so will stop contributions once they have reached
the maximum of $24,500.
Additional information on the 2026 SUNY Universal Availability Notice, which provides
information on the 403(b) plans available to SUNY employees, can be found at this
link: 2026 Universal Availability Notice.
Office of Human Resources
Benefits@farmingdale.edu
