Connor Posted February 4 Posted February 4 I know I've seen a thread discussing this before but I'm having trouble locating it. A non-owner employee works for a company that sponsors a 401(k) plan to which she defers regularly, sometimes the maximum amount, and receives employer contributions. She also owns her own company and is considering adopting a 401(k) plan for it. If I recall correctly, she would be able to defer the full 402(g) limit as well as contribute the maximum 415(c) limit to her own plan even though she's deferring and being allocated profit sharing amounts in her employer's plan - is this accurate?
WDIK Posted February 4 Posted February 4 The 402(g) limit is for an individual. You total all salary deferrals to all 401(k) plans. The 415 limit applies to the plans of each employer/sponsor separately. Bruce1, Bill Presson, Lou S. and 1 other 4 ...but then again, What Do I Know?
Peter Gulia Posted February 4 Posted February 4 Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
Connor Posted February 4 Author Posted February 4 Good thing I asked - thank you for your assistance.
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