The Age 50+ Catch-up provision allows people over age 50 to contribute more to
their deferred comp account.
The Special 457(b) Catch-up Provision is part of the Section 457(b) of the
Internal Revenue Code, and was amended by the Pension Protection Act of 2006.
Participants who have not contributed the maximum limit under IRS law in
previous years may contribute an amount less than or equal to the maximum limit
(essentially, up to double the maximum) in the three years prior to the
individual’s normal retirement age.