I read this on IRS site:
Compensation limit for contributions
Remember that annual contributions to all of your accounts maintained by one employer (and any related employer) - this includes elective deferrals, employee contributions, employer matching and discretionary contributions and allocations of forfeitures, to your accounts, but not including catch-up contributions - may not exceed the lesser of 100% of your compensation or $66,000 for 2023
Please clarify...does this mean the catchup contribution is in addition to the 100% earned income limit? ie. total total contribution limit is 100% earned income + additional catchup contribution (if over 50).
thx in advance.
