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Frequently Asked Question

My husband recently changed jobs and cannot contribute to his new company's 401k for a full year. Can we contribute to an IRA until he qualifies for the new 401k?

Answer: Yes, he can contribute up to the annual limit to an IRA. Deductibility of the contributions will depend upon your income level.

This is for educational purposes only. The information provided here is intended to help you understand the general issue and does not constitute any tax, investment or legal advice. Consult your financial, tax or legal advisor regarding your own unique situation and your company's benefits representative for rules specific to your plan.

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