2009 Maximum Deferral Limits
The Internal Revenue Service announced cost of living adjustments
applicable to dollar limitations for the Oregon Savings Growth Plan
The annual limit increased from $15,500 to $16,500. The 50-Plus
Catch-Up limit for individuals over 50 increased from $5,000 to
$5,500, which means you can defer up to $22,000 if you are at least
age 50 during 2009. If you are eligible for the 3-year Catch-Up, you
may be able to defer up to $33,000.
If you are currently contributing at 100%, your contributions will
automatically increase to the new maximum monthly amount of
$1375 unless you contact OSGP at 503 378-3730. If, however, you
are currently contributing the maximum dollar amount of $1291.66,
and you want to increase that to $1375 in 2009, you will need to do so
by accessing your account at https://osgp.ingplans.com or by calling
the Information Line at 800 365-8494.
If you are participating in one of OSGP’s Catch-Up programs or
contributing a monthly amount over $1291.66, you will receive
correspondence from OSGP in early November. Please review that
information and respond accordingly.
If you have any questions, or if you would like to enroll in one of the
Catch-Up programs for 2009, please call OSGP at 503 378-3730.