how to contribute to both Traditional IRA and 401k plans? ? Roth ...

I created a Traditional IRA by rolling over the money from my previous employer?s 401k before joining a new company for a new job. Now, the new company is offering 401k and I decide to make contributions to the 401k only. Is that true that the current amount of money from the Traditional IRA and the annual contributions to 401k together can not exceed the max limit ($15000 for year 2007)?

Thank you!

Source: http://rothira.solve-up.com/roth-ira/how-to-contribute-to-both-traditional-ira-and-401k-plans/

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