MBCarey Posted January 28, 2003 Posted January 28, 2003 I have a client with a M/P plan and a 401(k) plan. Do I still need to combine the contributions to do the 415 testing?
four01kman Posted January 28, 2003 Posted January 28, 2003 415 governs the maximum limitation on contributions and benefits. A single individual in both a money purchase plan and a 401k plan cannot have an annual addition greater than $40,000 for 2003. So the quick answer is yes, you have to look at the total annual additions to participant accounts. Jim Geld
MBCarey Posted January 28, 2003 Author Posted January 28, 2003 Thanks, I must have been dreaming when I thought the rules had changed or else I've been at this too long.
four01kman Posted January 28, 2003 Posted January 28, 2003 Wait a minute! You have time to dream. It just shows that the more we know, the less we know. Jim Geld
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