The Internal Revenue Service recently announced the annual 403(b) limits for 2024. They are as follows:
- Pretax elective deferral: $23,000 (was $22,500 in 2023)
- Age 50 and over catch-up: $7,500 (was $7,500 in 2023)
- Overall by employer/employee: $69,000 (was $66,000 in 2023)
- Annual compensation limit: $345,000 (was $330,000 in 2023)
You are able to view, make changes, and enroll in a Johns Hopkins University retirement plan at any time during the year using the online Retirement portal accessible from the Retirement Plans Enrollment tab on the Benefits & Worklife homepage. Should you need assistance with the online portal, contact the JHU Retirement Center at TIAA at 888-200-4074.
If you want to ensure you're on track toward your financial goals, you can reach out to a free adviser from Marsh McLennan Agency or TIAA.
MMA financial coaches
To help you make decisions about your retirement investments, JHU has partnered with Marsh McLennan Agency, an independent investment adviser. You can register for a virtual session with a licensed MMA Prosper Wise financial coach at no cost to you. MMA coaches do not sell products or receive commissions. Various financial topics can be discussed, including:
- Your JHU retirement plan
- General investment questions
- Social Security
- Debt/budgeting
- Employee benefits and insurance
- Review of tools available on the Prosper Wise site
- Preretirement planning
To schedule a session, go to MMA's Prosper Wise website, sign in, and click Talk with a Coach in the top right corner.
TIAA financial counselors
Representatives from TIAA are also available to meet one-on-one with faculty, staff, and bargaining unit members, virtually or by phone. The individual financial counseling sessions are free of charge. Visit TIAA.org/schedulenow or call 800-732-8353, weekdays 8 a.m. to 8 p.m.
Prefer face-to-face time? In-person TIAA consultations are back on the Homewood and East Baltimore campuses. Click here to learn more and to schedule. An appointment is required (walk-ins will not be accepted).
For general 403(b) retirement plan–related questions, call the JHU Benefits Service Center at 410-516-2000 or email benefits@jhu.edu.
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