415 limit

[Fisher]

Dr A had a practice with a PSP and contributed $46,000 in 2008. Business closed 9/30/08 and started working in a hospital with a 403(b) plan. Wants to defer $15,500 to the 403(b) this year. My thought is that the 2 must be aggregated this year, even though business has closed, and he can not defer anything to the 403(b), unless if he is over 50, then he should be able to do the $5,000 catch-up.

Any views would be appreciated.

[WDIK]

My thought is that the 2 must be aggregated this year

Is the doctor an employee of the hospital that sponsors the 403(b) plan?

[John Feldt ERPA CPC QPA]

Did the doctor own more than 50% of his practice? If he was a 50% owner or less, then the 415 limits are not aggregated. He is considered a 100% owner of his 403(b) for 415 limit purposes.