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DrMerlot asks:

<<I have a 401k at my company. Is the 15%, 10K maximum restriction just for my portion, or is it for the sum of my portion and the match portion combined?>>

It depends on the type of defined contribution plan you have. A profit sharing plan is limited to 15% of compensation while a money purchase plan can go up to 25%. Many firms use the two in combination. Legally, you and your employer combined may contribute up to the lower of 25% of your compensation or $30K. You alone are limited to the lower of $10K or up to 25% of your gross compensation. The plan itself may further limit the percentage you may contribute, and many plans do so they will have an easier time of passing compliance/discrimination tests of the plan. It can get even more complicated. Suppose your plan has no percentage cap on your contribution, but it does match your contributions dollar-for-dollar up to 6% of your pay. You, then, would be limited to 19% of compensation (25% minus 6%) or $10K, whichever was less. Together you and your company would be contributing the 25%.

For details on your situation, you should talk with your benefits folks.

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