The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Question on 401(k) contribution limits Date:  11/26/2003  6:28 AM
Author:  MadCapitalist Number:  37991 of 88758

Also, if the limits are for both 401(k) plans combined, am correct in assuming that I am responsible of making sure that I don't go over the $13,000 limit (for tax purposes)?

I don't know who is technically responsible, but tell your next employer how much you have already contributed for the year, and they should be able to make sure that you don't go over.

I used to do payroll for a small company using ADP, and ADP's software allows you to enter contributions made from a previous job so that the software would automatically limit the contributions for the year to the correct amount.

Other payroll systems are probably similar.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us