Revenue Reconciliation Act
The Revenue Reconciliation Act requires the University to cap annual pensionable earnings for those employees hired July 1, 1996 or later. Pensionable earnings include Academic Base, Patient Services and Faculty Practice (Guaranteed) capped at $250,000.

• The employee's mandatory contributions of 5% and will cease at $12,500
• The employer pre-tax 8% contribution limit will shut off at $11,280 under the State Legislation enacted in July 2010.
• Active Group Life Insurance benefit is capped at $875,000.
• The Long Term Disability maximum pensionable base monthly salary is $20,833.

Annual Tax Deferral Limits

403(b) Tax sheltered Plans
Alternate Benefit Program (ABP) Employee voluntary contributions
Additional Contributions Tax Sheltered (ACTS) Program
Supplemental Collective Annuity Trust (SACT)

• Up to $17,000 per annum for employees who are less than age 50 at the end of the year.
• Up to $22,500 per annum for employees who attain age 50 before the end of the year.

Section 457- New Jersey State Employees' Deferred Compensation Plan

• Up to $17,000 per annum for employees who are less than age 50 at the end of the year.
• Up to $22,500 per annum for employees who attain age 50 before the end of the year.

Tax$ave Program – Flexible Spending Accounts
maximum annual limits

• Up to $2,500 for Unreimbursed Medical Expenses
• Up to $5,000 for Dependent Care

Commuter Tax$ave Program- monthly limits 

• Up to $125 for mass transit commutation costs
• Up to $240 for parking at work or park and ride sites *
  
  * You cannot elect to defer University parking fees if you are already having pretax parking deducted from your paycheck.

For Social Security, New Jersey Unemployment and Disability Insurance Taxes, Education Assistance Program for annual federal non-taxable amounts and Group Term Life Insurance (Imputed Income) see payroll tax information