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For a profit sharing plan, the legal percentage limit is 15% of compensation for you and your employer combined.


Can you clarify this for me. I am contributing 15% right now. I thought the maximum allowed was $10500 that I could contribute, not counting my employer's match. Is this not correct?

I am wondering if I should knock that 15% down to about 12% so I don't go over the legal limit.
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