LCMC Retirement Plan Update
In 2023 you may contribute up to $22,500 via payroll reduction. Your congregation can also contribute to your retirement account. The IRS allows total annual contributions into your account of $66,000.
If you haven’t started saving early, you still have time to increase your retirement savings. Those over age 50 may contribute an additional “catch-up” contribution of $7,500.
For more information, go to www.LCMC403b.com, click on Plan Information, and scroll down to Retirement Plan Information. Contact Annette LaPlant at alaplant@cap-mgt.com with questions.
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