qbteachmt
Level 15
05-20-2022
11:46 AM
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You'll want to confirm your figures every year:
https://www.irs.gov/retirement-plans/one-participant-401k-plans
For 2022, the (employEE) elective deferral limit is 100% of compensation to a max of $20,500; there is a catch up amount for someone over 50 years old = additional $6,500. The EmployER nonelective share is 25% of the compensation.
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Don't yell at us; we're volunteers