A question came up from one of my senior co-residents who is entertaining job offers. He is currently a resident and our hospital offers a regular 401k as a W2 employee. He will graduate in June and take a position as an attending, but in the contract he mentioned that he won't have access to the 401k until he has been with the new practice at least 6 months (which will be 2018 then). We were discussing how much he is able to contribute and what the best strategy is?
-Can he max out his 18k portion for the first six months while still a resident (if he has the money to do so) and then setup a solo 401k for the rest of 2017 and contribute to that while an attending? Or does the fact that he did have some access to a regular 401k during the 2017 calendar year make him ineligible for a solo 401k?
-Can he max out his 18k portion for the first six months while still a resident (if he has the money to do so) and then setup a solo 401k for the rest of 2017 and contribute to that while an attending? Or does the fact that he did have some access to a regular 401k during the 2017 calendar year make him ineligible for a solo 401k?
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