Originally Posted by
767pilot
Does the defined contribution go into a separate account, like a money purchase plan, or does it go in your 401k which would have the effect of limiting your own contributions. Everyone I've heard of has a separate B plan type thing for this but when I asked an ABX friend he wasn't sure.
It all goes in the 401(k).
2024 individual contribution limits are $23,000 plus a $7,500 catch-up contribution if you're over 50. Maximum total contribution (individual + company) is $69,000. Even 12-year captains won't hit that unless they're working a bunch of overtime.