Resources and Announcements

IRS Announces Retirement Plan Contributions for 2023

The IRS announces the limits on retirement contributions:    
-403(b) & 457(b) limit increases from $20,500 to $22,500      
-Over age 50 catch-up total contribution increases from $27,000 to $30,000
-401(a) compensation limit increases from $305,000 to $330,000

  
Read more about Supplemental Retirement Accounts (SRA) and how to make changes to your retirement contributions.   

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TIAA New and Resources

• West Virginia Higher Education Policy Commission (the Commission) has adopted retirement plan changes as a result of the Coronavirus Aid, Relief and Economic Security (CARES) Act

• CARES Act and Required Minimum Distributions
• Schedule a virtual individual counseling session with a TIAA financial consultant:
• WVU specific registration;
• West Virginia statewide registration; or
• Call 800-732-8353.

• TIAA Advisory Services Capabilities Brochure

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Social Security News and Resources

• Get Your Social Security Benefit Statement (SSA-1099 / SSA-1042S)

Tax season is approaching, and replacing your annual Benefit Statement has never been easier.  The Benefit Statement, also known as the SSA-1099 or the SSA-1042S, is a tax form we mail each year in January to people who receive Social Security benefits.  It shows the total amount of benefits you received from us in the previous year so you know how much Social Security income to report to the Internal Revenue Service on your tax return.

If you live in the United States and you need a replacement form SSA-1099 or SSA-1042S, simply go online and get an instant, printable replacement form using your personal my Social Security account at www.ssa.gov/myaccount.  A replacement SSA-1099 or SSA-1042S is available for the previous tax year after February 1.

Additional News

• Statement about Service from Andrew Saul, Commissioner of Social Security
• New Standardized Benefit Verification letters now available online!
• Social Security Announces New Online Video Hearings

• Social Security Expedites Decisions for People with Severe Disabilities

• Update concerning Economic Impact Payment’s (EIP) prepaid debit card for certain individuals 
  

• Social Security Combined Trust Funds Projection Remains the Same Says Board of Trustees

• Supplemental Security Income Recipients Will Receive Automatic COVID-19 Economic Impact Payments
• New Guidance about COVID-19 Economic Impact Payments for Social Security and Supplemental Security Income (SSI) Beneficiaries 
• Social Security Benefits Will be Paid On Time and   Other Updates Related to the COVID-19 Pandemic
• Social Security Offices Closed to the Public
• Inspector General Warns Public About New Social Security Benefit Suspension Scam

Visit   https://www.ssa.gov/coronavirus/ for up to date information.

To get more Social Security news, follow the Press Office on Twitter  @SSAPress.

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Healthcare Resources

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IRS Retirement Topics