Some members may have their annual creditable compensation limited in accordance with Section 401(a)(17) of the Internal Revenue Code. The limit affects individuals who joined TRS for the first time on or after Sept. 1, 1996.
The annual limit is subject to indexing each plan year and is based on federal regulations. Amounts excluded from creditable compensation are not subject to member contributions and will not be used in calculating benefits.
The table below includes the compensation limit for the current plan year.
Time Period | Limit | ||
---|---|---|---|
Sept. 1, 2024 - Aug. 31, 2025 | $345,000 | ||
Sept. 1, 2023 - Aug. 31, 2024 | $330,000 | ||
Sept. 1, 2022 - Aug. 31, 2023 | $305,000 | ||
Sept. 1, 2021 - Aug. 31, 2022 | $290,000 |