Follow-Ups to Answer from Expert Allen

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M. Helmer wrote at 2008-12-12 23:06:43
I'm not familiar with mandatory contributions to either a 403(b) or a 457(b).  A mandatory 403(b) contribution would not count against the $15,500 elective deferral limit.



You really need to nail down what type of plan you have with the university.  Often a person in a similar situation needs to aggregate the school plan with the solo-k (per Internal Revenue code section 415(k)(4)) for purposes of the $46,000 limit.  But that's only if the school plan is a 403(b), 401 defined contribution plan, or a 408(k) SEP Ira.  In such a case (still assuming under age 50), the $46,000 limit includes the total dollars put in the solo k PLUS the university plan.



Are you sure the U's plan is not a defined benefit plan, like a 414(h) "pickup?" If it's a d.b. plan, that gets you back to a $46,000 limit in the solo k by itself.

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