joel Posted May 4, 2012 Posted May 4, 2012 Employee earns $60,000 per year and pays 3 percent of salary (under 414(h)) to his Qualified Pension Plan. He elects to contribute 5 percent of salary to his 403(b) plan. Is the 5 percent of salary based on $60,000 or $58,200?
mbozek Posted May 4, 2012 Posted May 4, 2012 Employee earns $60,000 per year and pays 3 percent of salary (under 414(h)) to his Qualified Pension Plan. He elects to contribute 5 percent of salary to his 403(b) plan.Is the 5 percent of salary based on $60,000 or $58,200? What does the plan say? mjb
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