My employer sponsored retirement plan is a simple IRA. As with other employer sponsored plans my contributions are pre-tax & my employer matches a percentage. My question is does the $6000 max contribution apply or is the max $19,00 because it’s an employer plan?
Hey @cristina_medio!
Strangely, according to the IRS the answer is neither! You can contribute up to $13,500 in 2020. Your employer match doesn’t count towards that. And that doesn’t impact your ability to contribute to a Traditional or Roth IRA.
1 Like