Catch-Up Contributions & 415 limit

[Guest moltengater]

I am confused on 415 limit and catch-up contributions.

My 401(k) PS plan has a plan year 07-01-2004 to 06-30-2005. I have made the following 401(k) contributions:

01-01-04 to 06-30-04 $12,800

07-01-04 to 12-31-04 $3,200

01-01-05 to 06-30-05 $18,000

Total plan year 401(k) contribution = $21,200

Total 401(k) catch-up contribution applied to 2004 plan year ADP testing=

$3,000 from 2004 & $4,000 from 2005

My 2004 plan year 415 limit is $42,000 - what is the maximum profit sharing I can take for the 2004 plan year to get me to my 415 limit? Note - my comp. is well in excess of the 401(a)(17) limit in effect.

Is it $42,000 less $14,200 in deferrals or $27,800? or is it something less than this?

Any help is appreciated.

[jquazza]

I would tend to think your $27,800 calculation is correct unless you used your '04 catch up to exceed 415 in your 03 plan year (PYE 6/30/04.)