Maximum ROTH 403b contribution if empoyed part year
I will be starting new job July 1. This new job offers ROTH 403b. I have not made any contribution to 401(k) or 403b prior to starting this new employment (I was a student). I plan to contribute to this ROTH 403b starting from first day on the job, which is July 1. Would my maximum allowed contribution be 19k or 9.5k (as I would only be employed for half a year).
Permalink Submitted by Alan - IRA critic on Sun, 2019-06-23 03:46
The IRS limit is 19,000 regardless of how many months you work. However, whether you can contribute that much in 6 months or not depends on the % of salary your plan allows to be contributed and your rate of pay.