The Campus CONNECTION Issue 12 February 2015
In this issue Self-employed Retirement Contributions P.1 Now You Know P.1
Self-employed retirement contributions Now You Know Current Staff Openings
Secretary I - Office of the President
Secretary II - College of Business
Director of Communications
IT Business Analyst Director of Financial Aid and Veteran Services
Campus Life P.2 Employee Corner P.3 Reminders & Updates P.4
If you own an outside business through which you contribute to a qualified retirement plan, and you are also enrolled in ORP or TDA through the A&M System, there are IRS regulations that apply to your retirement savings.
This means contributions including employee and employer contributions for both the 403(b) (ORP and TDA) plan and the selfemployed qualified plan must be below the annual 415 limit mentioned above.
415 regulations assign the responsibility of aggregating these plans to the A&M System, since The IRS 415 regulations we are the 403(b) provider. The limit the amount that can A&M System is required to obtain be contributed to a retirement plan for an individual self-employed contribution infor($52,000 for 2014). Normal- mation from employees to deterly, this limit does not have mine if employees have exceeded this limit. to be aggregated between different employers. Howev- If you have made contributions to er, plan contributions must a self-employed plan in 2014, be aggregated across plan please contact: types if the individual owns Sheri Meyer more than 50% (controlling interest) of a business with System Benefits Administration 301 Tarrow Street, 5th Floor a sponsor-qualified plan College Station, TX 77840 (typically a Keogh plan or (979) 458-6175 SEP). s-meyer@tamus.edu