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I dont contribute to a 401K at work but my employer set up a 401K PSP and deposited $101.00 dollars of his money in it. Am I now considered as having a 401K at work?
All of the money is from the employer and I have always declined to participate in a 401K. It is listed as a qualified non elective contribution and my plan status is non contributing. I am concerned that if this means I have a 401K at work my MAGI is too high to deduct my IRA contributions.
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‎June 4, 2019
1:03 PM