Contribution Limitations

[Guest hkraft]

Does the maximum amount an employee can defer in a 401K plan for 1999 remain at $10,000?

Also what is maximum amount that an employer can contribute to an employee into an employer sponsored profit sharing plan for 1998 and 1999?

[Larry M]

a. maximum individual 401(k) deferral for 1999 remains at $10,000.

b. there is no change for maximum annual addition to a defined contribution plan $30,000 is the dollar limit and 25% of an employee's comp is the % limit. (