Deferred compensation

[Terry O]

I have a client who retired from a state job and maxed out his 457 (including the over 50 catch-up allowance) he is 56.

Now, he is starting another job and wants to participate in their 401 (they actually match up to 5%). Since he already hit the max $$on the first job for 2010, is he allowed to participate in the new job's plan for this year?

Thank you in advance!

[OldJack]

yes

[Terry O]

Thank you!