Originally Posted by
Dave Behnke
Shaggy, help me out here. This is from the IRS website:
"The limitation for defined contribution plans under Section 415(c)(1)(A) is increased in 2014 from $51,000 to $52,000."
Are we not covered under this?
http://www.irs.gov/uac/IRS-Announces-2014-Pension-Plan-Limitations;-Taxpayers-May-Contribute-up-to-$17,500-to-their-401(k)-plans-in-2014
Dave,
I am no financial expert but the way I understand it is Total defined contribution limit is 52K but the most any employer can invest on your behalf is 31,200 you can put in 17500 in your 401K and that leaves 3,300 you can contribute additionally to reach the 52K limit.