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Author: babyfrog Big red star, 1000 posts Old School Fool Home Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76422  
Subject: 401(k) and 403(b) with two different employers Date: 6/10/2002 5:29 PM
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A previous post on this topic:
http://boards.fool.com/Message.asp?mid=16725188

answered a similar, but not exactly the same question I need help with.

The article pointed to in the response said that "if your employer offers a 403(b) and 401(k), federal law permits you to contribute a total of $11,000 to both combined."

I interpret that to mean if the same employer offers both, then you can contribute a total of $11,000 across both plans.

My question is this:

I currently max out my 401(k) plan with my for-profit employer, with a contribution that annualizes out to $10,999.92 .

I will soon be starting a second job, at a not-for-profit employer, with a 403(b) plan. Two different jobs with two different employers.

Can I contribute to both plans without hitting some "overall contribution limit?" How much can I contriubute to the second plan?

Thanks!
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 34662 of 76422
Subject: Re: 401(k) and 403(b) with two different employe Date: 6/10/2002 6:59 PM
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Babyfrog asks:

Can I contribute to both plans without hitting some "overall contribution limit?" How much can I contriubute to the second plan?

The answer is the same as the situation outlined earlier in your post. Your combined contribution to both plans may not exceed $11K this year. The plans may be with one or multiple employers, but the overall limit remains the same. If you're maxing out at $11K with employer #1, then you may contribute nothing to the plan with employer #2.

Regards..Pixy


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Author: babyfrog Big red star, 1000 posts Old School Fool Home Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 34663 of 76422
Subject: Re: 401(k) and 403(b) with two different employe Date: 6/10/2002 8:15 PM
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TMFPixy,

Thanks for the information!



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