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How much can I save in Single(k)?

You can save up to [contribution_total_employee() {] per year in individual contributions — either pre-tax or after-tax (Roth) contributions, or both ([contribution_total_50_or_older() ] for those age 50 or older). Although it’s not required, you can make a profit-sharing contribution for a total contribution of up to [contribution_total_individual() {] per individual (or [contribution_total_individual_50_or_older() {] for those age 50 or older) depending on the type of company you have.

For corporations: The profit-sharing contribution allocation cannot exceed 25% of compensation as defined by the plan.

For sole proprietors or partners: The profit-sharing contribution allocation cannot exceed 20% of your company’s net earned income.



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