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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: of 75379  
Subject: Re: excess SARSEP contribution Date: 2/12/1998 6:56 PM
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Ingrid,

<<Luckily for me, my previous employer is helping me out of this mess. They're changing the excess 1996 contribution into 1997 contribution. So, as soon as I get the fixed W2's, I'll be set. Mostly.

I only worked for that company for part of 1997, and my new employer does not have a retirement plan. Does the SARSEP contribution limit (15% of salary) consider all 1997 salary or just the salary from the employer sponsoring the SARSEP? I can't find this issue dealt with in any of the IRS docs I've looked at.>>

Technically, it is 15% of the salary at your former job, not your salary for the year. If you're over, remove it before April 15, 1998.

Regards……Pixy
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