OSPS E-News ~ OSGP - year end reminder

[Announcements from OSPS to the users of the Oregon State Payroll Application]

Payroll professionals,

The following is being forwarded on behalf of OSGP.
________________________________
If you have an employee who is currently contributing and plans on terminating or retiring at the end of the year (12/31/2019) please be aware that this could result in the employee exceeding the 2019 annual limit.

If you have an employee who meets this scenario, please notify the OSGP Program Coordinator (Kathy Gannon) directly kathleen.m.gannon at pers.state.or.us<mailto:kathleen.m.gannon at pers.state.or.us>

Also, the annual contribution limits have increased for 2020.

*       If the employee is below age 50 their annual contribution limit is $19,500.

*       If they turn 50 on or before December 31, 2020, they may contribute an additional $6,500 making their contribution limit $26,000.
Kathleen Gannon
OSGP Program Coordinator

Email - osgpcustsvc.pers at state.or.us<mailto:osgpcustsvc.pers at state.or.us>


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