As you look toward 2025 and your financial future, there are tools and resources you can use to help keep your planning and savings on track.
IRS limits for 2025
Each year in November, the IRS announces the next year's limits for contributions to 403(b) plans. For 2025, they are as follows:
- Pretax elective deferral: $23,500 (was $23,000 in 2024)
- Age 50 and over catch-up: $7,500 (no change from 2024)
- Overall by employer/employee: $70,000 (was $69,000 in 2024
- Annual compensation limit: $350,000 (was $345,000 in 2024)
You are able to view, make changes, or enroll in a Johns Hopkins University retirement plan at any time during the year using the TIAA Retirement Plans enrollment portal. More information and resources can be accessed on the university's Retirement Plans enrollment site.
Enhancements to JHU 403(b) plans
JHU is implementing two enhancements to the JHU 403(b) plans for 2025 to make it easier for employees to save for their futures—automatic enrollment and savings programs. Both are voluntary, but participating requires different actions on your part. Learn more on Hub at Work or on the Retirement Plans enrollment page of the HR website.
Webinar, resources, and help
Wondering if you're saving enough for retirement, or do you have other questions about JHU's 403(b) plans? You have options for support:
- Join a webinar from noon to 1 p.m. on Thursday, Nov. 21, to learn more about the 403(b) retirement plan enhancements. Register here.
- Visit MMA's Prosper Wise website, your free, one-stop digital platform for financial planning.
Schedule a consultation with an unbiased MMA financial coach. If you have any questions or need assistance, contact:
JHU Benefits Service Center at benefits@jhu.edu or 410-516-2000
- TIAA at 888-200-4074, 8 a.m. to 8 p.m. on weekdays. You also can explore TIAA's website for additional resources.
Posted in Benefits+Perks
Tagged hr newswire
