Savings Plan 415(c) Limit Setup when Both 401(k) and 403(b) Exist
(Doc ID 636591.1)
Last updated on MAY 18, 2021
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 8.3 SP1 and later
Information in this document applies to any platform.
1) It appears that limit 415(c) needs to be set up for 401(k) plans and 415(c) for 403(b) plans need to be set up for 403(b) plans. If our 401 and 403 special accumulators result in the same value, is it necessary to establish both 415 limits?
2) The IRS web site has so many documents and details that it's easy to get lost. Do you know of web sites that explain 2005 limits with clarity?
3) Are there certain deductions that we should focus on which add or subtract from special accumulators?
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