How much is too much? Salary deferrals in multiple retirement plans

Description

Abstract: When employees change employers, they may be eligible to defer compensation in more than one qualified retirement plan. The IRS sets the individual limit employees may defer as pretax or Roth contributions each calendar year to all of their employer-sponsored plans. But the specific rules vary a bit depending on the type of plan. This article summarizes the rules for employees who participate in multiple retirement plans.