Kansas Department of Administration

98-P-014 Deferred Compensation Limit

Posted on 10/21/2021 at 12:50 PM by Kansas Department of Administration

DATE: December 15, 1997
SUBJECT: Deferred Compensation Limit
EFFECTIVE DATE: January 1, 1998
CONTACT: Payroll Services (785) 296-3146
APPROVAL:
SUMMARY: Limit increase to $8,000 for Deferred Compensation

Per the Internal Revenue Service Information Release 97-41, the annual deferred compensation limit under Section 457(b)(2) rises from $7,500 to $8,000, effective January 1, 1998.

Aetna will notify all Deferred Compensation Plan Participants that are currently at the limit, giving them the opportunity to increase their contributions. Please inform employees in your agency of this change.

Any questions regarding this circular should be directed to Janice Wolfley in Payroll Services, Division of Accounts and Reports at (785) 296-3699.

JJM:CJ

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