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Zev sez:.

<<For 1998, you can contribute a combined total of $10,000, regardless of how many employers you have, previous or current. I believe that this is also capped at 17% of income, which ever is less. It makes no difference how this money is contributed throughout the year. OTOH, I also believe that your employer is free to contribute as much as they want, within the rules of their plan. >>

Actually, the participant is limited to 25% (not 17%) of pay or $10K, whichever is less. Any contribution made by the employer reduces the 25% maximum the participant may contribute. Thus, if the employer kicks in 8% of pay, the participant is limited to the lesser of 17% of pay or $10K. Additionally, the contributions of both may not exceed the lesser of 25% of compensation or $30K.

Regards….Pixy
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