A 55 year old business owner has a Uni K plan and makes $22,000 salary. Is she permitted to make a $15,500 salary deferral, $5,000 catch up contribution, and a $5,500 profit sharing contribution – giving her a total contribution of $26,000 ($4,000 over her total compensation)?

I see conflicting information about how the $5,000 catch up contribution is treated as it relates to the “100% of compensation limit” and whether or not she can contribute over 100% of her compensation by not counting the catch up contributions.

Any help is appreciated!