Tax-Sheltered Annuity Plans (403(b) Plans): For Employees of Public Schools and Certain Tax-Exempt Organizations (Tax Bible Series 2016)

Retirement savings contributions credit. For 2015, the adjusted gross income limitations have increased from $60,000 to $61,000 for married filing jointly filers, from $45,000 to $45,750 for head of household filers, and from $30,000 to $30,500 for single, married filing separately, or qualifying widow(er) with dependent child filers. See chapter 10, Retirement Savings Contributions Credit (Saver's Credit), for additional information.
Limit on elective deferrals. For 2015, the limit on elective deferrals has increased from $17,500 to $18,000.
Limit on annual additions. For 2015, the limit on annual additions has increased from $52,000 to $53,000.
Introduction
This publication can help you better understand the tax rules that apply to your 403(b) (tax-sheltered annuity) plan.
In this publication, you will find information to help you:
• Determine the maximum amount that can be contributed to your 403(b) account in 2015.
• Determine the maximum amount that could have been contributed to your 403(b) account in 2014.
• Identify excess contributions.
• Understand the basic rules for claiming the retirement savings contributions credit.
• Understand the basic rules for distributions and rollovers from 403(b) accounts.
This publication does not provide specific information on the following topics.
• Distributions from 403(b) accounts. This is covered in Publication 575, Pension and Annuity Income.
• Rollovers. This is covered in Publication 590, Individual Retirement Arrangements (IRAs).
How to use this publication. This publication is organized into chapters to help you find information easily.