Jim Haselmaier wrote:
- quote -

Jim,
You may be able to contribute to both plans in 2004 but your combined
contributions are capped. So depending on how much you put into your
sole-pro 401k and what type(s) of contributions those dollars
represented, you might not be able to contribute anything to the new
employer's plan, or you might still have some of your limit left.

When it's just going from one job to another it's usually easy because
the question is the salary-reduction contribution limits. In '04 the
limit is $13,000 total in salary reduction contributions, plus an extra
$3k if you're 50 or older by 12/31/04.

But since this is your own plan it might not be so easy, because of the
different ways you can set up your plan and make contributions. The best
advice here is to talk with the consultant who set up your 401k plan.

-Tad

I've had a personal 401(k) that I've been contributing to this year. I have
a sole proprietor consulting business.

I'm joining a company in September that has a company-sponsored 401(k).

Am I allowed to contribute to both plans in the same year? Or, since I've
already contributed to my personal 401(k) this year, do I need to wait to
participate in the company plan until next year?

Thanks.

Jim