IRA contribution limit

[BEE]

Hello
I started a new job on October 2017 that has retirement plan 401( a). I did have 2 different jobs in 2017 that had 403(b) and 401(k). Can I contribute 18000/year  on each accounts; or is it combined total 18000/year for all IRAs.
Thanks.

[FIREshrink]

Those aren’t IRAs.

[BEE]

I see. So what about the 401 k, 401 a and 403 b limits for contributions? 18000/year each or combined?

[ChadCFP]

Yea, they are not IRAs but rather your employer qualified plan options. Side note: You can still save to your IRA/Roth IRA in addition to your employer plans.

The key is if the 401a is a mandatory plan? For example, do they require 5% of your salary to be contributed, but don’t allow any other contributions to the 401a.

If it is a mandatory plan and you have the 403b option as well, you should be able to save a full $18,000 to your 403b in addition to the mandatory contribution to the 401a. A mandatory 401a and 403b will allow you to contribute more than a total of $18,000 (2017 limit for ALL contributions including your employer match/contributions was $54k).

There was a good chat about this in the forum back in 2016 with Johanna and Kon who are both very knowledgeable. Contribution limits to 401a and 403b.

This topic can have a few moving parts, but check with HR. Also see if they have a 457 plan as well, then you could have another $18,000 to save to that bucket as well. 

[jfoxcpacfp]

If you will search for spiritrider + 403b in this forum, you will find very succinct, easily understood comments. One that I would recommend is #48205.

[spiritrider]

There are two different contribution limits for qualified plans.

There is one employee deferral limit (2017 = $18K, 2018 = $18.5K, + $6K >= age 50) across all qualified plans (401k, 403b, SIMPLE IRA and SARSEP IRA).

There is one annual addition limit (2017 = $54K, 2018 = $55K) for each unaffiliated employer.

There is a separate limit for all 457 plan contributions that is equal to the employee deferral limit.

Then there are the plan type specific exceptions.

401a pre-tax employee contributions are mandatory, "picked-up" by the employer and are not considered employee deferrals. These contributions are included with employer contributions and voluntary after-tax employee contributions in the annual addition limit.

403b plans are consider controlled by the participant and are not aggregated with other plans of the employer for the annual addition limit, unless the participant is a > 50% owner of a business. Also, in that case the 403b must also be aggregated with any employer plan of that business

In the OP's circumstances. The employee deferrals across the 401k and the 403b are subject to the single employee deferral limit. The 401a mandatory employee contributions are not. 403b contributions would not be included in the annual addition limit of a single employer unless the participant was a > 50% owner of a business.