multiple retirement plans
An individual owns a 403(b) and a 401(k). He has no ownership interest in either sponsor of either plan. Can he electively defer $15,500 per plan or is he limited to $15,500 TOTAL for the two plans?
An individual owns a 403(b) and a 401(k). He has no ownership interest in either sponsor of either plan. Can he electively defer $15,500 per plan or is he limited to $15,500 TOTAL for the two plans?
Permalink Submitted by Alan Spross on Tue, 2008-02-19 18:52
Elective deferrals are limited to a total of 15,500 over all plans plus any catch up if applicable.