Originally Posted by
Gunfighter
1 and 2 are correct. 3) You actually quoted the correct answer of $66,000 directly from the tax code and proceeded to claim it was lower. $66,000 is both the company limit and the 415c limit. Any personal contribution goes against the plan limit. You phrasing of the limits is a misrepresentation of the true limit. You are correct that personal contribution is required for the $7,500 catch up contribution.
Agree. My brain hurts. I am right and partially wrong. My version uses full funding by individual. I don’t see why you’d do differently. I believe in sheltering as much tax now as I can.