Can you please confirm whether my understanding below is correct?
2022 401(k) contribution limit for those over 50yrs = $67,000 which can consist of (1) Employee pre-tax: 20,500 + 6,500 catchup; (2) Employer pre-tax match and (3) Employee after tax if the plan allows.
Over and above the $67,000 401(k) limit, a person (50 yrs and over) can contribute $7,000 to an IRA (assuming for now none of which is deductible).
I am also assuming that contributing directly to a Roth IRA is not allowed for this person.
Thanks for your help.