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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 76388  
Subject: Limit on qualified plans...again Date: 2/24/1998 6:08 PM
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Hello all, I belong to a union which has a defined benefit pension plan and also a money purchase plan. I am in the process of trying to get our members to convert the money purchase plan into a 401k plan,to allow more flexibility. I have been told that the amount of deferred compensation has a limit of 25%. Is this correct? If so then 25% of what? 25% of the amount on the w-2's or 25% of "total package" i.e. taxable wages + all benifits. Also are there any differences in the tax benefits for the employer between a money purchase plan vs a 401k plan? Thanks, Bryan
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