Combine total for 403B and 401K exceeding IRS limit

Summary:

Need guidance on how we can ensure that the combine total doesn’t exceed IRS limit

Content (required):

We have employees who have assignments with multiple legal employers and are eligible for 403B and 401K plan. I need guidance on how we can ensure that the combine total doesn’t exceed IRS limit.

Here is an example:

Employee – Jack (ID 24546) has one assignment each with the following LE:

1. Legal Employer called “ABC Corp” – 403B (E24546)
2. Legal Employer called “XYZ Corp” – 401K (E2456-2)

Jack is contributing to both the plans, and we want to ensure that his total contribution doesn’t exceeds the annual IRS limit.