Help w/ Solo 401K max contribution

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sighchological
Posts: 150
Joined: Sat Feb 02, 2013 12:12 pm

Help w/ Solo 401K max contribution

Post by sighchological » Tue Jun 12, 2018 4:18 pm

Hello all,

Any help regarding maximum contributions to the following retirement plans would be appreciated!
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I have access to a 457B and Solo 401K.

My wife has access to a 403b.

We both are eligible to contribute to a Roth IRA.
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Is the maximum i can contribute in 2018 correct?

Me:

1) 457B: $18.5K
2) Roth/Traditional IRA: $5.5K
3) Solo 401K: $18.5K employee
4) Solo 401k: $36.5K employer (The employer contribution cannot exceed (net self-employment earnings - employee deferrals) / 2)

Wife:

1)403B: $18.5K (employer contributes $5,724 in 2018, in 2019 employer will contribute $11,448)
2) Roth/Traditional IRA: $5.5K

Spirit Rider
Posts: 7977
Joined: Fri Mar 02, 2007 2:39 pm

Re: Help w/ Solo 401K max contribution

Post by Spirit Rider » Tue Jun 12, 2018 5:36 pm

Correct if < age 50.

Yad
Posts: 1
Joined: Tue Jun 12, 2018 8:35 pm

Re: Help w/ Solo 401K max contribution

Post by Yad » Tue Jun 12, 2018 8:41 pm

Correct.

See "How Much Salary Can You Defer if You’re Eligible for More than One Retirement Plan?" at IRS.gov

https://www.irs.gov/retirement-plans/ho ... ement-plan

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sighchological
Posts: 150
Joined: Sat Feb 02, 2013 12:12 pm

Re: Help w/ Solo 401K max contribution

Post by sighchological » Tue Jun 12, 2018 8:57 pm

Yes, i am less than 50. thanks for your help.

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