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Your client, age 54, has worked for the City of Dallas for the last 15 years. Your client plans to defer $22,500 into their public
Your client, age 54, has worked for the City of Dallas for the last 15 years. Your client plans to defer $22,500 into their public 457(b) plan for 2023. They will attain normal retirement under the City's 457(b) plan next year. Their prior unused deferral amount is $8,500. What is the maximum amount the client can contribute in catch-up contributions for 2023?
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To calculate the maximum catchup contribution for your client for 2023 we need to consider their age and the rules set by the IRS for catchup contributions to retirement plans As of 2023 individuals a...
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
