Tom Poje Posted February 17, 2014 Posted February 17, 2014 individual has his own 401k plan for his company. only employee. he is in a SEP, total unrelated company, no ownership. he receives the maximum in the plan (e.g. 51,000) as I recall, annual additions are separate for unrelated companies, so he could still put in a contribution for himself in the 401k, but my brain is on a freeze, so just want to verify.
ETA Consulting LLC Posted February 18, 2014 Posted February 18, 2014 You are correct! The only time something similar would become an issue is when the individual is in a 403(b). Then you could have two plans of 'unrelated' employers combined for 415; because of the special 403(b) rule assigning the annual addition to the individual participant. Good Luck! CPC, QPA, QKA, TGPC, ERPA
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now