VIDEO: What Is the 15-Year Catch-Up Contribution Rule for 403(b) Plans? | Retirement Savings Explained

  • Retirement Funding
Have you heard of the 15-year catch-up contribution rule for 403(b) plans? This little-known provision could allow long-term employees of schools, hospitals, churches, and other nonprofits to contribute thousands of dollars more toward retirement.

In this video, I’ll break down: 

  • Who qualifies for the 15-year catch-up 
  • How the $3,000 annual and $15,000 lifetime limits work
  • How it interacts with the age 50+ catch-up 
  • Key IRS rules you need to know before contributing

 

Whether you’re a teacher, nurse, or nonprofit employee, understanding this rule could make a big difference in your retirement savings strategy.

 

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This material is intended for educational purposes only. You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. Dorval & Chorne Financial Advisors is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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