Emloyed by two employers and two different plans in one year.

[Guest asset management]

Emloyed by two employers and two different plans in one year. Can compensation for both employers and plans be counted to exceed the $30,000 limit and 160,000 limit for 1999 due to two employers, two plans?

Example: Dr. is employed by Emergency Services for 8 months. Compensation was $200,000. He is now a partner in a partnership for the balance of 4 months of 1999. Compensation was $60,000. Question?

He has contributed $30,000 in the original employer plan. Can he contribute addition funds on the $60,000 in compensation from the partnership?

[imchipbrown]

The question hinges on whether the employers have to be aggregated. The 415 limits are what an employer can contribute (assuming DC Plan here) for an employee.

If he's an "Employee" of Emergency Services and an "Employee" of someone else (including himself), he can get 2 (or more) $30,000/25% contributions.

Key section is 415(g or h). I'm at home, forgive me.

By the way, I work for a pension company. If I charged you for this advice on my own time and you actually paid me, I could make a contribution to my own plan, if I own less than 50% of the pension company, and we're not an affiliated service group.

Of course, if I billed you $120,000 for changing a lightbulb under "Chip Brown Lightbulb Service, not Affiliated in Any Way with Pension Company"...?