Author Topic: Job transition maximum contribution question  (Read 1346 times)

Suit

  • Bristles
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  • Posts: 275
Job transition maximum contribution question
« on: October 08, 2017, 01:52:20 PM »
I'm leaving my job where I have a 457 and I am close to maxing out on contributions this year but won't max out before leaving. I'm transitioning to a job with a 401k. Does anyone know if the limit is a total 18,000 per year between the two jobs or if I can go over that?

Gone_Hiking

  • Stubble
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  • Posts: 228
  • Location: Arizona
Re: Job transition maximum contribution question
« Reply #1 on: October 08, 2017, 02:12:34 PM »
Congratulations on the new job!  The limit stays the same regardless of the number of employers - 18K for this year total.  The 401(k) provider at your new job will not be aware of your previous contribution and will not stop you from contributing too much and it is up to you to calculate the correct amount of deferment.

Suit

  • Bristles
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  • Posts: 275
Re: Job transition maximum contribution question
« Reply #2 on: October 08, 2017, 02:29:45 PM »
Thank you both, I appreciate it!

Suit

  • Bristles
  • ***
  • Posts: 275
Re: Job transition maximum contribution question
« Reply #3 on: October 08, 2017, 09:39:22 PM »
Great! Thanks!