Federal rules in accordance with the Omnibus Budget Reconciliation Act (OBRA) prevent our office from accepting contributions on earned salary that exceeds certain limits. One limit applies to members of URS before January 1, 1994, and the other applies to members of URS after January 1, 1994.
Compensation limits since 2014 are listed below:
|
Year |
Members after January 1, 1994 |
Members before January 1, 1994 |
|
2024 |
$345,000 |
$505,000 |
|
2023 |
$330,000 |
$490,000 |
|
2022 |
$305,000 |
$450,000 |
|
2021 |
$290,000 |
$430,000 |
|
2020 |
$285,000 |
$425,000 |
|
2019 |
$280,000 |
$415,000 |
|
2018 |
$275,000 |
$405,000 |
|
2017 |
$270,000 |
$400,000 |
|
2016 |
$265,000 |
$395,000 |
|
2015 |
$265,000 |
$395,000 |
|
2014 |
$260,000 |
$385,000 |
Contributions based on salaries reported to our office above these limits are annually credited back to the employer’s clearing account.