December 4, 2006 - You may still increase and maximize your 2006 retirement contributions into one of the University's voluntary retirement accounts through the end of this calendar year. To increase retirement plan contributions, you must submit a 2006 voluntary retirement plan contribution form (available from UK Benefits Office - details below, or click here for forms)
by the following deadlines dates, depending on whether you are paid bi-weekly or monthly:

Bi-weekly payroll deadlines:

Dec. 6, 2006 (to increase contributions for both remaining 2006 pay
periods)
Or
Dec. 13, 2006 (to increase contributions for only the final 2006 pay
period)

Monthly payroll deadline:
Dec. 11, 2006

To pick up a voluntary retirement plan contribution form, visit UK Benefits in 115 Scovell Hall (Benefits front desk) or 317 Wethington Building (UK HR Resource Center) - or you can click here to access forms online. Completed forms may be dropped off at the Benefits front desk at 115 Scovell or at the UK HR Resource Center in 317 Wethington Building. You may also contact UK Benefits by phone at (859) 257-9519, option 1, or by e-mail at benefits@email.uky.edu.

A Note on Eligibility and Retirement Plan Maximums

Please note: You may contribute a maximum of $15,000 in the 457 retirement plan and $15,000* in a 403(b) retirement plan. An additional $5,000 catch-up provision to both 457 and 403(b) plans is available for employees over the age of 50. There may be an additional $3,000 catch-up for employees who have 15 years of consecutive service and have not maximized retirement savings in previous years.

*This amount may vary based on your income and hire date. You may call the Benefits Office at 257-9519, press option 3, then choose option 1 to speak to a customer service officer to verify your maximum allowable contribution for 2006.