Total 401k and SEP contributions
I was self employed until May and now work as employee for a financial institution. I had a SEP and now have access to a 401k with employer matching. I am over 50. My question is, are there any limitations to the maximum I can contribute beyond the normal 401k limits and 25% net SEP limits?
Permalink Submitted by Alan - IRA critic on Wed, 2013-05-22 22:28
These plans are treated separately unless you have substantial ownership of the financial institution, ie your contributions to the two plans do not affect each other.