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Author: ilmostro Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: 401k's $ money purchase plans Date: 2/9/1998 6:22 PM
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It is my understanding that the money purchase plans have a contribution rate that can go as high as 25% of one's salary, but everyone has to contribute at the same rate. i.e. $3.00 per hour. And 401k's are elective and you can contribute nothing or up to 15% of your salary. I already now about the pitfalls of being considered a "highly compensated individual". Are the above statements true or am I way off on a tangent? And is it possible to have both plans at the same time? And if it is possible to have both plans at the same time what is the limits of both plans combined? Is it 15% + 25% = 35% or are the some other rules or regulations that would prevent you from shielding such a big portion of your wages? Thanks, Bryan
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