How much would these proposed increases mean to me and my take-home pay?

The increases would be phased in gradually over several years, with each contribution increase being less than 1% of gross salary. The impact on take-home pay would actually be less, since the income tax deduction is factored in by payroll: each additional dollar contributed to the plan would “cost” 69 cents or less after tax depending on income and tax brackets.

 

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