JMU 403(b) Retirement Plan
A 403(b) account is a voluntary tax-deferred retirement savings accounts that is available to individuals who are employed by the Commonwealth of Virginia in either a salaried or wage position. Employees may elect to have a portion of their paycheck deducted on a pre-tax basis and deposited into their 403(b) accounts.
The contribution limit is adjusted annually. For 2016, contributions can be:
- 100% of salary up to $18,000 for individuals under 50
- You can defer an additional $6,000 if you are over 50
Please contact the JMU HR department to determine if you are eligible for the employer match.