401K TRAD AND ROTH
THE LIMITS FOR AN INDIVIDUAL ON A ROTH IS $5500 UNDER THE AGE OF 50.
HOWEVER, WITH A COMPANY 401K PLAN CAN THE CLIENT FUND THE ROTH 401K PLAN UP TO 18K FOR 2019 OR JUST THE TRADITIONAL 401K AND ONLY FUND THE ROTH 401K UP TO THE $5500?
THANK YOU
DOUGLAS
Permalink Submitted by Alan - IRA critic on Thu, 2019-04-25 02:00
The IRA contribution limit has increased to 6000 for 2019. The limit for elective deferrals is now 19000, and can be in any combination between pre tax and designated Roth deferrals. The limits for IRAs and qualified plans are separate unless SIMPLE IRA contributions are made.