2025 403(b) and 457(b) Announcement for Philomath

Supplemental Retirement Saving Opportunities

Philomath offers two excellent voluntary programs through which you may elect to contribute a portion of income into supplemental retirement savings accounts: the 403(b) and 457(b) Plans. Philomath has contracted with Carruth Compliance Consulting (“CCC”), a Third Party Administrator (TPA), to provide information and support for the 403(b) Plan.

All part-time and full-time employees are eligible to contribute.

You may begin, change, and/or cancel contributions in the 403(b) Plan and/or the 457(b) Plan at any time, subject to payroll deadlines. You may begin contributions in the 403(b) Plan by following the ‘403(b) Enrollment Procedures’ on the CCC website.

In addition to traditional pre-tax 403(b) and 457(b) contributions, Philomath offers after-tax Roth 403(b) and 457(b) contributions.

**403(b) Contribution* Limits for 2025**

$23,500.00 Applies to employees under age 50 at the end of 2025
$31,000.00 Applies to employees age 50-59 or over 63 by end of 2025
$34,750.00 Applies to employees age 60-63 by end of 2025
403(b) Special 15 Years of Service Catch-up: Up to an additional $3,000**

**457(b) Contribution* Limits for 2025**

$23,500.00 Applies to employees under age 50 at the end of 2025
$31,000.00 Applies to employees age 50-59 or over 63 by end of 2025
$34,750.00 Applies to employees age 60-63 on by end of 2025

Note:

457(b) Special 3 Year Catch-up: If 2025 is one of the last three years preceding the calendar year of your normal retirement age, you may be eligible** to contribute up to $47,000.00 (twice the basic limit)

*Note: Contributions to the plans above cannot exceed employees’ total compensation.
**Please contact CCC to verify eligibility and limits available under Special Catch-ups.

The ’Age-Related Catch-up Limits’ above apply for the first time in 2025 as a result of the SECURE 2.0 Act. A new ’Catch-up Contributions Must Be Roth for Highly Compensated Participants’ requirement becomes effective in 2026. Additional information about SECURE 2.0 requirements is available at www.ncompliance.com/secure2info.aspx.

Participant Responsibilities

Participants are responsible for monitoring account activity regularly for accuracy (e.g., deposits of your contributions), updating contact and beneficiary information.
Contribution limits are specific to you, the taxpayer. If you participate in another organization’s retirement plan in addition to participating in the Philomath Plan, please note:

403(b) Elective Deferral Limits described above apply to your total deferrals to all 403(b), 401(k), SIMPLE, and SARSEP plans in which you participate.
If you control an organization sponsoring a qualified defined contribution plan, all contributions made to that plan on your behalf must be aggregated with all 403(b) elective deferrals and employer contributions at Philomath for the 2025 $70,000.00 IRC 415(c) limit, but those age 50+ may defer additional amounts.
Note: 457(b) contributions do not need to be aggregated with 403(b) contributions for limit consideration.

If a problem exists or if you have questions, you should contact CCC or your employer as soon as possible.

Comprehensive information is available online via CCC’s website, www.ncompliance.com.
Please contact CCC with any questions at 503-968-8961 or Toll-Free at 877-222-3090 or via the “Contact Us” page.