Welcome to Northrop Grumman - Benefits Online
Welcome to Northrop Grumman - Benefits Online
Welcome to Northrop Grumman - Benefits Online
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2008 Savings Contribution Rates<br />
Your Tax-Deferred<br />
Contribution Limit<br />
Limit on Total<br />
Contributions (your<br />
tax-deferred<br />
contributions plus<br />
<strong>Northrop</strong> <strong>Grumman</strong>’s<br />
contributions and/or<br />
matching contributions<br />
If you are Under<br />
Age 50<br />
Maximum of $15,500<br />
1%-75% for non-HCEs<br />
100% of annual pay or<br />
$46,000 or whichever is<br />
less<br />
*If you are age<br />
50 or older<br />
Additional $5,000 in<br />
catch-up contributions,<br />
for a maximum of up <strong>to</strong><br />
$20,500<br />
100% of annual pay or<br />
$51,000 ($46,000 +<br />
$5,000 in catch-up<br />
contributions),<br />
whichever is less<br />
* You must be at least 50 years old by the end of 2008 <strong>to</strong> be<br />
eligible <strong>to</strong> make catch-up contributions in 2008.<br />
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