Mega backdoor Roth on employer change
"IRS does NOT limit match, after-tax 401(k) or total 401(k) contribution across ALL employers. The IRS only limits you to $57,000 within EACH employer 401(k) plan." Is this correct? I was at Apple before and I moved to FB this week. Source: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
Update: read replies below. That may be true That info is false. Sum of All 401k sub-accounts (pre-tax aka traditional, Roth,and After Tax, employer match), across ALL employers are limited by IRS at $57K (in 2020) (ignoring catch-up contributions for older folks). The pre-tax+Roth part is limited to 19.5K across ALL employers (in 2020).
Total annual contributions (annual additions) to all of your accounts in plans maintained by one employer (and any related employer) are limited. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
The IRS website says it's for an employer plan
Total 401k is set per year, if you pay above the limits per year, you need to file on tax return and move it out. It’s a painful process
Salesforce can you pls elaborate?