Go to Jeff Salisbury LWGate Home Page.From: Rich Carreiro <rlcarr@animato.arlington.ma.us>
Subject: Re: 401(k) limits
Date: Thu, 13 Jan 2000 18:52:02 -0500
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>>What are the limits for 401K contributions? There is
^^^^^^^^^^^^^^^^^^
>>For 2000, the absolute hard limit is $10,500 (up from $10,000 in
>>1999). This is set by law. Only your own 401(k) contributions count
>>toward this limit.
>
>This is not correct...
No, it is correct.
>if you have a paired Profit Sharing and Money
>Purchase Plan, both Keogh and if you make over $120,000 per year, you can
>sock away $30,000 per year... that is the max.
I'm sure that's true of Keogh plans, but Keogh plans are not 401(k) plans
and are subject to different rules.
Rich Carreiro rlcarr@animato.arlington.ma.us
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