I was laid off from my previous employment in the summer. Not sure if I could find another job this year, I increased the contribution of 401k as well as post tax 401k (mega backdoor) and contributed the max allowed for the year (23,000 + 7500 catchup + rest to meet 76,500 including post tax contribution) while I was still on the payroll of my previous company.
I am starting a new job next week. I understand that I cannot contribute any for pre-tax because I have met the yearly limit of 30,500 (23,000 + 7500) for 2024. Can I still contribute to the post-tax 401k (mega backdoor) under the new employer for 2024? If yes, what is the contribution limit for 2024? I read somewhere that the 76,500 limit is per-plan/employer, not per person. So technically it is allowed?
I am starting a new job next week. I understand that I cannot contribute any for pre-tax because I have met the yearly limit of 30,500 (23,000 + 7500) for 2024. Can I still contribute to the post-tax 401k (mega backdoor) under the new employer for 2024? If yes, what is the contribution limit for 2024? I read somewhere that the 76,500 limit is per-plan/employer, not per person. So technically it is allowed?
Statistics: Posted by swansea89 — Mon Oct 14, 2024 11:43 pm — Replies 0 — Views 25