Did you know that if you are 50 years or older in 2018, you can make additional contributions to the Dauphin County, PA Deferred Compensation Plan. The normal contribution limit is $18,500 for 2018, but participants age 50 or older can make an additional contribution of $6,000, for a maximum annual contribution of $24,500. Remember, the Employer contribution of $104 per year, is included in this $24,500; so the maximum employee contribution would be $24,396 (based upon 26 pays).
If you plan to make catch-up contributions, you must contact HR so that they can raise your contribution limit from $18,500 to $24,500 in the payroll system.
If you would like to discuss your contributions, don't hesitate to Contact Us.