Gilmore Posted April 11, 2019 Share Posted April 11, 2019 Calendar year 401(k) plan terminates 1/24/2019, final distribution 4/5/2019. Am I correct that a 50+ year old participant has a 415 limit of $10,666.67? Thanks very much. Link to comment Share on other sites More sharing options...
CuseFan Posted April 11, 2019 Share Posted April 11, 2019 They have a 415 limit of $4,666.67, 1/12 of $56,000, plus a 401(k) catch-up of $6,000 available to the extent other limits are reached, so yes, you could say they effectively have a $10,666.67 415 limit. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com Link to comment Share on other sites More sharing options...
Luke Bailey Posted April 11, 2019 Share Posted April 11, 2019 Would need at least that much comp in January, b/c of 100% of comp limit. BTW, if anyone questions the result provided by CuseFan, the cite is 1.415(j)-1(d)(3). Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034 Link to comment Share on other sites More sharing options...
Gilmore Posted April 12, 2019 Author Share Posted April 12, 2019 Thank you. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now