15 Year Rule Salary Reduction Agreement Updated on: March 15, 2018 Subject to verification from Human Resources The 15-year rule allows employees to exceed the otherwise applicable 402(g) limit if they have at least 15 years of service with the same employer (which do not need to be consecutive) with the same qualifying tax-exempt employer Under the 15-year catch-up rule, if an employee’s elective deferrals in prior years were less than the 402(g) limit, the employee may be able to make deferrals of up to $3,000 over the otherwise applicable 402(g) limit for the current year, subject to a lifetime limit of $15,000. This 15-year rule is available only under 403(b) plans . This is also in addition to the age 50+ catch-up. I authorize Austin College to reduce my pay as indicated. My typed name and my Austin College email will serve as my signature. Name* First Last Austin College Email:* Month and Year:* Fixed dollar amount:*