Guest jetfaninmn Posted June 2, 2005 Posted June 2, 2005 I have a participant who works for two different companys. Company A has a SIMPLE and Company B has a 401(k) Plan. What is the limit for this participant? Is it capped at $ 14,000 total? For example, can they max out the SIMPLE at $ 10,000 and $ 4,000 in the 401(k)?
wmyer Posted June 3, 2005 Posted June 3, 2005 Yes, the deferral limit would be $14,000 TOTAL for calendar year 2005 (plus $4,000 catch-up if age 50 or over), or 100% of compensation, if less. The 402(g) limit is on a calendar year basis and is an individual limit. W Myer
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