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<<Under law, you can contribute up $10,000 annually. Does this include employer
contribution? What is the penalty for over the limit?>>


No, the employer contribution does not count toward the $10,000 limit.

As far as the penalty for contributing too much, I'm not sure entirely, but it basically should be avoided, and brought to the attention of the plan administrator for rectification at the time of discovery to avoid any excess penalties.


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