2018 Contribution Limits
Does the 2018 limit of $55,000 on additions to Defined Contribution Plans like a 401(k) coordinate with the limit on additions to a SEP-IRA which is also limited to $55,000? In other words is it possible to contribute $55,000 to a 401(k) and $55,000 into a SEP-IRA or is the limit $55,000 in total?
Permalink Submitted by Alan - IRA critic on Tue, 2018-08-21 18:07
The 55k annual additions limit is per employer. However, the controlled group and affiliated service group rules must be considered to determine if there is more than one employer.