Maximum Allowable Contribution (MAC) Limits for 2022

The IRS has recently announced the 2022 Maximum Allowable Contribution (MAC) limits for 403(b) and 457(b) plans. You will find the information in the flyer in the link below.

2022 Maximum Allowable Contribution Limits

$3,000 One Time Annual Salary Incentive

The CCPS Board of Education approved the following terms for the one time salary incentive of $3,000…for the necessary means to maintain the operations and the continuity of service and for the retention of existing staff.

Only active full-time staff at the time of each payment will receive the $3,000 incentive, with the 1st installment of $1,500 being paid on November 30, 2021 and the 2nd installment of $1,500 being on May 15, 2022 (pro-rated if days worked are less than a full year contract).

Part-time and substitute staff are eligible for a prorated portion of the incentive to be received, if active at each of the 3 installment dates of November 30, 2021, May 15, 2022, and June 30, 2022, based on days/hours worked during those payroll periods.

Retired returned to work staff are not eligible for this incentive per the Kentucky Teachers Retirement System for the days they were paid based on their Daily Wage Threshold amount.

This incentive payment will be facilitated in a separate paycheck from regular contract paychecks and staff must be active at the time of each installment date to receive the incentive payment.