Retirement Contribution overpayment warning

[tractng]

Hello,

As I go through my tax, I get this message regarding overpayment of retirement contributions by $2,996.

It says I contributed $23496 to my retirement plan (matches box 12a on w-2 where it has a letter "E" with 23,496).  It says I was allowed $20,500 in 2022. 

I qualified for the 15 years catch up plan (been over 15 years with the same company) so I made the almost extra $3000 approved by Tiaa-Cref.  I work for education under the 403b managed by Tiaa-Cref.   I am under 50 years old.  

What should I do?  Do I just continue and ignore this message?  It tells me to read IRS Publication 560.

Thanks ahead.

TT

[DanaB27]

If you have verified that you qualify for the 15-year catch-up plan and didn't have an excess deferral then you can ignore TurboTax's warning. An excess deferral won't cause a penalty like an excess IRA contribution; therefore, there isn't anything else you need to do. 

Please see  Pub 525 for additional information on excess deferrals.

[tractng]

Thank you so much.  This year I got a letter from HR saying I qualified for the 15 years catch up plan, however last year (2022 tax year, the one I am posting about) I didn't get any letter. HR approved that with the adjusted contribution in their system.  Should I chase the letter down to keep it for reference? 

Edit:  the plan is 403b.

TT

[DanaB27]

Yes, it would be a good idea to keep the confirmation that you qualified for the 15-year catch-up plan for 2022.

[tractng]

Thank you!