Tweet
Everything above is correct, you guys are getting really good at this!
To summarize, you get one 415 limit, you can indeed have to solo 401k plans, but they will share the limit.
However, if you were a partner in two separate practices (with less than 50% ownership), you could have two separate 415 limits (with $18.5k in common) and would be eligible for two 401k contributions and also two Cash Balance plan contributions (one on top of the other).
To summarize, you get one 415 limit, you can indeed have to solo 401k plans, but they will share the limit.
However, if you were a partner in two separate practices (with less than 50% ownership), you could have two separate 415 limits (with $18.5k in common) and would be eligible for two 401k contributions and also two Cash Balance plan contributions (one on top of the other).
Comment