Modified contribution rates become effective July 1, 2017, for the state and local governments and September 1, 2017, for public education. Though most rates are unchanged from last year, please systematically review new rates each year to confirm they are correct and updated in time in your reporting software.
The most visible change occurred in the rates for DB Hybrid funds. While the total rate for most DB Hybrid funds remained the same, rate distribution between the system account and required employer 401(k) account has changed for all DB Hybrid funds.
Access the finalized rates here or by logging into the Employer Portal. State and local government web administrators or those assigned to see the Rates tab are being prompted to certify the current rates upon logging into the Employer Portal (Public Education entities will be able to certify the rates starting mid-July). The web administrator or another designated employee must complete the rate certification before the new rates take effect. If you are a state or local government entity, please make certain that your contributions for the pay periods ending on or after July 1, 2017 reflect the new contribution rates. If you have any questions, please contact your Employer Support Technician or contact us at 800-753-7318.
There are limits to how much employers and employees can contribute to a savings plan each year. If you offer multiple defined contribution plans, track employer and employee contributions across plans, especially if you offer options not administered by URS. While our office notifies employees of any excess contributions made to URS Savings Plans, we are unable to monitor contributions made to plans outside of URS.
Employees are responsible for consequences resulting from exceeding IRS limitations. Educating your employees on contribution limits and matches can help ensure they don’t contribute too much or too little. URS offers many educational tools that can help your employees make informed decisions about their benefits. Encourage them to research our publications and to take advantage of free seminars and individual retirement planning sessions.
2017 Contribution Limits
|Plan||Maximum Employee Contributions||
Employee Catch-up Contributions
Employee Contribution Limit
(under age 50/ age 50+)
Employee and Employer Combined Contribution Limit
|Traditional IRA/Roth IRA||$5,500||$1,000||$5,500/$6,500||NA|
Thanks for attending the URS Employer Event on March 16! Here are videos of the speakers.
Use this map to find the Retirement Planning Advisor assigned to you.
Check out the latest URS employer newsletter. See Employer Publications