CONTRIBUTION LIMITS RAISED FOR TAX-SHELTERED ANNUITY AND DEFERRED COMPENSATION PLANS

Old Dominion University faculty and staff participating in tax-sheltered annuities (403b) and deferred compensation (457) plans should be aware that contribution limits for tax year 2003 are increasing to the following: under age 50, $12,000; age 50 and over, $14,000.

If you want to increase your tax-sheltered annuity and/or your deferred compensation plan, please complete a new salary reduction agreement with your agent or come to the Department of Human Resources to complete a new agreement.

For more information, call 683-4760.