Originally Posted by
G4poor
Are the IRS limits separate between the money purchase plan and 401k? Could I put $58k in each for a total of $116k?
Both 401k & MPP combine for the contribution limit, which is $61k for 2022.
Additionally, the 2022 401k limit is $20.5k and 12% of the $305K compensation limit is $36.6k into MPP, leaving one $3.9k short of the $61k contribution limit for 2022 unless after-tax funds are booted.