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Asked 6/17/2009

Can I have two 401K jobs and is it ok that they both have different plans?

I have a full time job that gives 401K but I also hae another full-time job that gives 401K too. Is it ok to have to separate plans and will it effect me in any way?

 
 
 
 
 
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Answer 1/1 - Submitted 6/17/2009

The maximum you can contribute to your combined 401(k)'s is 16500 for 2009 (22000 if you're over 50). If you go over, you have the nuisance of pulling out the excess and paying taxes on it. So keep an eye on the combined contributions, keep them below the limit, and you're fine.

 
 
 
 
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