Flagpole wrote:
Question for FP wrote:bumping since the master has returned.
Was this combined limit in effect in previous years, or is it new for 2015?
I was not aware of that rule for 2015, and if it is indeed true, then it is new. A quick Google search could not find anything to support or denounce this claim.
Anyone have a link?
Am less worried now that I was saving too much in previous years according to the current administration. Sounds like this reduction of savings power is new.
http://taxes.about.com/od/retirementtaxes/qt/401k-contribution-limits.htm"Elective salary deferrals can be placed either into a tax-deferred traditional 401(k) or into a post-tax Roth 401(k) account, or into a combination of traditional and Roth as long as the total of all salary deferrals are equal to or less than the annual maximum."
http://www.cnbc.com/id/102115185"If a worker is investing in both an after-tax Roth TSP (where withdrawals are tax-free), as well as a pretax TSP, then the $18,000 contribution limit applies to the amalgamation of both accounts."