Multiple Retirement plans?
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Multiple Retirement plans?

 
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RCP



Joined: 13 Dec 2005
Posts: 1
Posted: Tue Dec 13, 2005 11:10 pm    Post subject: Multiple Retirement plans? Reply with quote
John (age 52) works for IBM and has contributed $12,500.00 to the 401K plan.

John quits IBM and starts a sole proprietorship. He sets up an individual 401k plan and and contributes $1500.00 plus $4000.00 catch up contribution as the employee. John makes $210,000.00 in his new business how much more can be contributed to the individual 401K as the employer contribution?

Thanks,

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