Can someone interpret this, particularly item #3 of the link.
https://www.irs.gov/retirement-plans/[product key removed]-up-contributions
Let say I have worked at the current job 17 years (Feb 6th 2024 will be 18th years). So 17 x $5000 =$85000. If my total contribution to the 403b is $82300, I would be allowed only $2700 for 2024?
The last two years I had been able to contribute $3000 each year to the 15 year catch up plan.
Thanks,
TT
