Page 18 - Public Employees Retirement Fund My Choice Plan Member Handbook for Local Government Employees

Table 1: Compensation Limits
7/1/1994 – 6/30/1995 7/1/1995 – 6/30/1996 7/1/1996 – 6/30/1997 7/1/1997 – 6/30/1998 7/1/1998 – 6/30/1999 7/1/1999 – 6/30/2000 7/1/2000 – 6/30/2001 7/1/2001 – 6/30/2002 7/1/2002 – 6/30/2003 7/1/2003 – 6/30/2004 7/1/2004 – 6/30/2005 7/1/2005 – 6/30/2006 7/1/2006 – 6/30/2007 7/1/2007 – 6/30/2008 7/1/2008 – 6/30/2009 7/1/2009 – 6/30/2010 7/1/2010 – 6/30/2011 7/1/2011 – 6/30/2012 7/1/2012 – 6/30/2013 7/1/2013 – 6/30/2014 7/1/2014 – 6/30/2015 7/1/2015 – 6/30/2016 7/1/2016 – 6/30/2017 7/1/2017 – 6/30/2018 7/1/2018 – 6/30/2019 7/1/2019 – 6/30/2020 7/1/2020 – 6/30/2021
Rollover Funds into PERF My Choice
Contributions
Fiscal Year
Max. Comp. Limit
N/A
N/A $150,000.00
$160,000.00 $160,000.00 $160,000.00 $170,000.00 $170,000.00 $200,000.00 $200,000.00 $205,000.00 $210,000.00 $220,000.00 $225,000.00 $230,000.00 $245,000.00 $245,000.00 $245,000.00 $250,000.00 $255,000.00 $260,000.00 $265,000.00 $265,000.00 $270,000.00 $275,000.00 $280,000.00 $285,000.00
You are able to create a Rollover Pre-Tax Contribution account in PERF My Choice with funds rolled over from any of the following:
▪ A qualified plan described in IRS Section 401(a), 403(a) or an annuity contract or account described in Section 403(b)
▪ An eligible plan maintained by a state or political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state under IRS Section 457(b)
▪ An Individual Retirement Account (IRA) described in IRS Section 408(a) or 408(b)
▪ A traditional or conduit IRA
▪ If you have rollover accounts with PERF Hybrid and/or the PERF My Choice: Retirement Savings Plan, INPRS must keep the accounts separate.
Public Employees Retirement Fund My Choice Plan Page 18 of 50 Member Handbook for Local Government Employees
Effective: 07/01/2020