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What is the maximum sally can defer into profit-sharing plan

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Reference no: EM133040362

Question - WHR, LLC sponsors a qualified defined contribution 401(k) profit-sharing plan, Sally, age 59, has compensation of $322,000 for 2021. WHR makes the following contributions to Sally's plan in 2021:

-12% of salary in profit-sharing contributions

-$5,000 of plan forfeitures

What is the maximum Sally can defer into her qualified 401(k) profit-sharing plan in order to maximize her total annual contributions for 2020?

Reference no: EM133040362

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