What is the impact of ERIT on my 403(b) Plan or 457(b) Plan contributions?

If your 403(b) or 457(b) contributions are deducted as a percentage of your compensation, your contributions will be reduced if you participate in ERIT.

In addition, your maximum annual contribution to the 403(b) Plan or 457(b) Plan may be affected by your participation in ERIT because it is based on the lesser of your adjusted gross salary or a fixed amount based on age. For example, your maximum annual contribution for 2011 would be based on the lesser of:

• your adjusted gross salary; or
• $16,500 if you are under age 50 as of December 31, 2011 or $22,000 if you are age 50 or older anytime during 2011.