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401K limit applies if I changed jobs during the calendar year?

March 20, 2011   IRA   No comments

Question by SHH: 401K limit applies if I changed jobs during the calendar year?
I have recently changed jobs and would like to know if the annual limit still applies to my 401K.

For example, year to date I’ve contributed $ 10K to my previous employer’s 401K plan. Does this mea my 401K contribution for the year with the new employer should be less than 5.5K?

Thanks!

Best answer:

Answer by Sharon T
Yes, and you will have to keep an eye on it as your new employer will not know what you have done during the year at your previous job.

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