Age 50 and Over Catch-up 

If you're age 50 or older by year-end, you can make up for lost time. If you contribute the maximum amount, you can make an additional $5,500 "catch-up" contribution annually.

If you are age 50 or older by year-end, you are automatically eligible to participate in the Age 50 and Over Catch-up.  You can increase, decrease, or stop your contributions anytime by contacting Texa$aver.

457 Catch-up 

The Texa$aver 457 Plan Program also allows you to double your annual contribution limit if you are within 3 years of retirement age. In 2012, that amounts to $34,000. Keep in mind you cannot use the Special 457 Catch-up in conjunction with the Age 50 catch-up.

In the last 3 years prior to retirement, you may defer up to double the normal Section 457 contribution limit.

• 2012 Special Catch-up Limit is $34,000
• Cannot be used in conjunction with Age 50 Catch-up
• Requires completion of application form to determine eligibility