401k Group Limits
How do you set up 401k Group Limits based on IRS guidelines, specifically for the $66k Limit for all employee and employer contributions?
- DBA 4000 401k Pre-Tax
- DBA 4001 401k Roth
(DBAs 4000 and 4001 need to share a group limit of $22,500 for year 2023; this puts these 2 DBAs in 'Group A')
- DBA 4002 401k After Tax
- DBA 4003 ER Match
ALL COMBINED, none of these DBAs can exceed 66k, and they are all calculating at the same time. (Using Group Limit 1 and 2 setups won’t work because they all need to be calculating throughout the year.).
It just seems like E1 can’t be setup for this BECAUSE you have to group Pretax and Roth in one group that shares that 22,500 limit… and a DBA can’t be in two groups (for the 66k limit).
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