Maximizing Retirement Plan Contributions

[scarabrad]

Folks,

Incredibly useful site. Would appreciate any input one can provide on my situation.

I am in a very fortunate situation of having two employment contracts with distinct employers and sizable self-employment income as well. I am prone to save as much as possible in retirement plans, mainly to achieve as much tax deferred investment as possible. Thus far, I have the following plans established:

1) Employer 1 (<100K income): 403B. I contribute the maximum (was 16,500, now 17,000) and my employer contributes ~20K (capped at this for my age group).

2) Employer 2: 401K, to start this upcoming July, 2012 after 1 year of service. I can contribute $17,000 to this with a full match to 49 or 50K (whatever the maximum is). I assume I will have to cease contributing to my 403B with my other employer so as not to exceed maximum employee contributions across plans.

3) Employer 2 also offers a 457B, to which I have not started contributing, but would like to. I assume I can make these contributions exclusive of the 403(b)/401K contributions (I will not be contributing to both the 403 and 401K starting July 1)? Is this assumption correct?

4) Self-employment: I have established a defined benefit plan for myself with target income of ~130K at age 62 and contributed ~100K for 2011. Actuarial assumptions not available for 2012.

5) I also contribute each year to a non-deductible traditional IRA for me and my homemaker wife, which I assume I can make.

Are my assumptions correct for the above scenario and am I taking maximum advantage of retirement plan contributions? Am I overlooking anything or in violation of any IRS rules? Any advice you sages can provided would be most appreciated.

Many thanks in advance!

SR

[david rigby]

duplicate post:

http://benefitslink.com/boards/index.php?s...c=50485&hl=

[scarabrad]

duplicate post:

http://benefitslink.com/boards/index.php?s...c=50485&hl=

Yes, it's duplicate, but I think it might be more relevant to this board rather than the defined benefits plan board. But I don't wish to run amok of board rules!!!

SR