|DATE:||December 15, 1997|
|SUBJECT:||Deferred Compensation Limit|
|EFFECTIVE DATE:||January 1, 1998|
|CONTACT:||Payroll Services||(785) 296-3146|
|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.