Retirement plan contribution limits Flashcards
1
Q
Profit sharing
A
25% of employees salary
2
Q
401(k)
A
Employees lesser of 100% of salary or $19,000
3
Q
KEOGH (HR-10)
A
The lesser of $56,000 or 25% of gross income
4
Q
Payroll deduction
A
N/A
5
Q
Deferred compensation
A
N/A
6
Q
Traditional IRA
A
$6,000
7
Q
Roth IRA
A
$6,000
8
Q
SEP
A
25% of gross salary or $56,000 whichever is less
9
Q
403B
A
Employee’s lesser of 100% of salary or $19,000
10
Q
Coverdell education savings accounts
A
$2000 per year per child
11
Q
529 plans
A
$15,000 per child per year
