I have briefly ready some forum threads in WCI about survey's and solo 401(k). If possible, I would love to have her fill out survey's, use the money to start a solo 401(k), then roll her old retirement savings from a previous employer into that. I'm thinking that she could also then roll a portion of her current employer's 401(k) into her solo 401(k) every 1-3 years in order to keep costs low. Is that possible and legal?
Lastly, if we assume she makes $1500 from survey's in a year, how much would she be able to put into a solo 401(k) and how would that affect the $18K contribution limit of her employer's plan?
If we assume she's eligible for Solo 401k, she needs to be aware that the 18K employee salary deferral limit is shared across all 401k plans. She must make sure that the sum of her Solo 401k employee salary deferrals and her 401k employee salary deferrals do not exceed 18K (24K if age 50+). Each 401k has its own 53K contribution limit. Solo 401k contributions cannot exceed the self employed compensation.
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