TPApril Posted December 18, 2021 Share Posted December 18, 2021 State employee participates in their plan. He also works for wife's firm who has a 401(k) Plan. I know 415 limits are plan specific. But is there an individual 402(g) limit that combines contributions to the state plan as well as the private plan? Link to comment Share on other sites More sharing options...
Carol V. Calhoun Posted December 18, 2021 Share Posted December 18, 2021 Yes. 415 limit is separate for different employers (so long as they aren't part of the same control group). 402(g) is measured at the employee level. Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances. Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted December 19, 2021 Share Posted December 19, 2021 And watch out for 403(b) there, as those accounts are considered owned by the employee, so if they own a side business and it has a plan, aggregation for 415 comes into play. Link to comment Share on other sites More sharing options...
TPApril Posted December 20, 2021 Author Share Posted December 20, 2021 On 12/18/2021 at 6:52 PM, John Feldt ERPA CPC QPA said: And watch out for 403(b) there, as those accounts are considered owned by the employee, so if they own a side business and it has a plan, aggregation for 415 comes into play. So you are saying contributions to the State Gov't plan are incorporated into the 402(g) calculation? Link to comment Share on other sites More sharing options...
Luke Bailey Posted December 21, 2021 Share Posted December 21, 2021 TPApril, is the government plan to which the individual is deferring a grandfathered 401(k), a 403(b) or 457(b)? Grandfathered 401(k) or a 403(b) would aggregate, but 457(b) not. 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...
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