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>>I'm new at the salary reduction game. I just open a 403(b) at my current job. They said I could get 20% or 10k$ whichever is less for 1998. However, I'm leaving the job in July. My next job also has a 403(b) plan. Does the 10k$/20% limit start all over with the second job or is it cumulative? My wife also has a 403(b) at her work. Does she have a separate 10k$/20% limit or is
the limit for both of us?

1) The $10,000 does not start over. You have one $10,000 limit each year.

2) You and your wife each have your own 10,000 limit, so you have, potentially 20,000 between the two of you.

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