The Internal Revenue Service has announced new contribution limits for retirement plans, including 403(b) plans such as the Teachers’ Retirement System’s Tax-Deferred Annuity program. The general maximum annual contribution amount will increase from $17,500 in 2014 to $18,000 in 2015. The limit on additional catch-up contributions for members age 50 and older will rise from $5,500 to $6,000 in 2015.

These changes allow you to increase your yearly contribution to your TDA account, boosting what is called your “full-year, full contribution” rate. You can find your personalized “full-year, full-contribution” rate on your Quarterly Account Statement for the period ending Sept. 30, 2014.