"Alan" <sfcnm-mtm[at]yahoo.com> wrote in message
news:Hywhj.5635$pr6.4022[at]nlpi070.nbdc.sbc.com...
- quote -

I did not know about pub 571.

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rlsusenet[at]NOSPAMPUHLEEZschnapp.org wrote:
- quote -

circumstances. There is a provision in the IRC that temporarily
increases the elective deferral limit for certain employees. It
is known as the 15-year-rule. The provision increases the
elective deferral limit by as much as $3,000.

See page 8 of IRS Pub 571 for details.

http://www.irs.gov/publications/p571/ch04.html#d0e1844

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DaveR wrote:
- quote -

Us older farts (50 and over) are allowed to deposit an extra $5,000 in
"catch-up" contributions.

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On Wed, 9 Jan 2008 15:09:30 EST, "Howard Kaikow"
<kaikow[at]standards.com> wrote:

- quote -

I thought the limit was $15,500?

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"Alan" <sfcnm-mtm[at]yahoo.com> wrote in message
news:r1bhj.6707$lo5.5444[at]newssvr19.news.prodigy.net...
- quote -


In this case, the issue is due to stupid programming.
The divide the total pay by the number of paychecks, so folkes are
forced to a limit of, say, 20496 or 20497 or 20498 or 20499, instead of
20500.

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Howard Kaikow wrote:
- quote -

contribution limit to let's say 10% of your pay. In addition, the
contribution limits are controlled by federal rules that prevent
an employer from discriminating to highly compensated employees.
If too many highly compensated employees ($100K in 2007) are
contributing compared to the other employees, the plan might have
to lower the contribution rate.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Are employers REQUIRED to allow an employee to contribute $20500 per year to
a 403b?

I am aware of at lease one employer that does not adjust the final
contribution for thee year, sp one ends up contributing less than $20500.

Obviously the result of incompetent computer programming.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >