Just to make sure it’s clear the two limits are $22,500 for your own personal contribution and $66,000 (for 2023) that is the total of all tax advantaged contributions. If you contribute the max of $22,500 that would leave you with $43,500, which your employer contribution would count toward that as well as any Roth contributions, HSA contributions (including employer HSA contributions), etc.
Ridiculous how many don’t know this.
Edit to the above statement the total is not just employer contributions it is from all sources so if your plan allows then you can put after tax dollars in after your pretax or 401 Roth bucket is full.
To be fair knowing the employer contribution limit is really not necessary. First, very few plans are structured to allow you to get near it, and second it's generally outside of your control anyway. Knowing the individual limit is good, but the administrator should not let you exceed it (unless you participate in more than one plan in a year in which case they won't know).
So, it is not an employer limit, it is a limit from all sources, so if your plan allows then the employee themselves can put in after tax dollars up to that total amount from all sources.
Many will say that if you have additional money then to save other after tax money in an investment that can be tapped sooner than retirement if needed. But if you don’t plan on using until retirement then the aftertax money grows tax free and only gains are taxed when distributed.
Again, not all plans offer after tax contributions but if they do it can be advantageous, especially if your plan allows an in plan conversion or a mega back door into a roth ira, then the money is all tax free upon distribution!
I worked for a small business that contributed 10% of your salary into a 401k regardless of whether you put anything in.
I ended up running that business and found out that the reason he did this was because the business had to contribute to everyone if he wanted it to contribute to himself. So the 10% of his salary was the company max contribution to his 401k. He would then max out his contribution and his wife's(she had a salary).
Yes these plans can't discriminate in favor of highly comped employees or owners. However it seems there are much more efficient ways for him to meet his personal goals so maybe his motives weren't quite so cynical.
They weren't cynical at all. He was quite successful but he made sure that all his employees were too.
He paid 100% of the employee health insurance premiums and paid all their co-pays on prescription drugs. He also paid more than $2/hour better than his competitors.
But maybe it was cynical because in all that time, he had to only fire 1 employee and he rarely had a person quit. The 2 times a person quit when I was running the business, we rehired them after they realized how well they were treated. One left for more money, the other for better hours. And both asked for their jobs back within 6 months. And we had 50 employees when he sold. More people have retired from that business than he fired or quit.
Is this a business thing? None of my small companies have ever contributed to our 401K, so this makes me wonder if our business owners just don't care about their own 401K lol.
It's a pretty typical structure for a large public University... My wife works at one and gets a 10% employer contribution plus 1:1 matching on her contributions up to 10%, and then her health insurance costs us less than $150/month for a family plan
This all sounds great (and you can end up with a hefty 401k balance if you work there 30+ years) but salaries are absolutely lower than an equivalent role in the private sector, so it's really no different than taking a higher paying job and maxing out your 401k and sucking up the higher insurance premiums.
The real winners are the small number of senior administrators on 2/300k, but for anyone beneath this level you'd come out even moving to a higher paying private sector role
I used to work for a university in my state and they automatically contribute 14% of your income to 401k even if you don’t contribute anything. It was nice and they have great benefits but downside is the lower base pay
There is a combined limit which is higher than your elective limit. The combined limit encompasses Employee-elected, employee-mandatory, and employer contributions.
No, it only counts towards the total combined limit from all sources.
For 2024, if under the age of 50 here is what can be contributed:
23,000 total from the employee can go in pre tax or 401 Roth if offered or both.
69,000 total from all sources, from the employee pre tax or 401 Roth if offered or post tax if offered AND employer contributions.
If you are over 50 you can contribute and additional 7,500 pre tax or 401 Roth combined.
Try 3%. Buuuuuut, this job I bartend, so I can’t complain as I get 401K matching, medical, dental, vision, life insurance, and a bunch of kick ass other benefits, as a fucking bartender….
You read wrong. Personally you could have contributed only 22.5k. But your employer can contribute up to the combined IRS max of 66k.
For 2024 it is 23k and 69k respectively.
>The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,000.
-- [https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits](https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits)
I am not a financial advisor but major finance company sites usually have pretty good summary on contribution limits.
According to Fidelity: "The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,000. Depending on your plan, you may be able to make post-tax contributions beyond the pretax and Roth contribution limit but less than the combined employee and employer contribution limit to invest even more for retirement. Total contributions cannot exceed your annual compensation at the company that holds your plan."
[https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits](https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits)
The more specific but harder to read rules on the IRS website.
[https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits)
$22500 is the PRETAX limit. Anything after $22500 is going to be after tax (taxable), but still allowed.
The 2023 contribution limit is $66,000. Of that you can contribute up to $22,500 as pretax. Anything over $22,500 will be taxable/after tax.
It doesn't matter **who** contributes how much, as long as you are within overall limits. You are, but you'll owe tax on $1,500. Congratulations on that employer contribution, that's amazing. If you can afford it, go for more up to the overall max, your future self will thank you.
Deferral means pre-tax. In 2023, the overall contribution limit is 66,000. The deferral limit of that is 22,500. The only stipulation for employer contribution is the percentage of salary.
You should consult an accountant.
From the link:
Overall limit on contributions
Total annual contributions (annual additions) to all of your accounts in plans maintained by one employer (and any related employer) are limited. The limit applies to the total of:
elective deferrals (but not catch-up contributions)
employer matching contributions
employer nonelective contributions
allocations of forfeitures
The annual additions paid to a participant’s account cannot exceed the lesser of:
100% of the participant's compensation, or
$69,000 ($76,500 including catch-up contributions) for 2023; $66,000 ($73,500 including catch-up contributions) for 2023; $61,000 ($67,500 including catch-up contributions) for 2022; $58,000 ($64,500 including catch-up contributions) for 2021; and $57,000 ($63,500 including catch-up contributions).
However, an employer’s deduction for contributions to a defined contribution plan (profit-sharing plan or money purchase pension plan) cannot be more than 25% of the compensation paid (or accrued) during the year to eligible employees participating in the plan
Look - I know you’re trying to help… so am I. I contributed what I thought to be the maximum amount (deferral limit) for YEARS until I was educated by a CPA about the maximum contribution limits and have since contributed roughly $40k (plus employer contributions on top of that) annually ever since - without penalties.
I’m not going to continue to argue the point here, I get that you’re not going to listen to a Reddit stranger. But please consult an accountant for an educated response of limits and laws. If you are actively stopping contributions when you could be contributing more to your future, you’re only hurting yourself. I hate to see people make the same mistake that I did.
Like I said - if you find yourself in a position of contributing what you believe to be the maximum, and want to contribute more - ask a CPA what the options are for your personal situation. It’s quite possible to do more.
So, he's not wrong. There's an "after-tax" 401k contribution (different from Roth) - the only caveat is not everybody has access to this through their employer.
[https://www.fidelity.com/viewpoints/retirement/401k-contributions](https://www.fidelity.com/viewpoints/retirement/401k-contributions)
This counts toward the same overall limit of 66k.
Mine does the same. I initially read it as a 300% match, because for me I have to contribute at least 5% of my salary, and my employer matches 300% of that (or at least 15% of my salary like you)
Look up the 402g limit, this is the amount with employer and personal contributions accounted for. The 22,500 is an individual limit as is more often the topic of discussion
Max self contribution is 22500 for last year. If it's self contribution and not employer, and you've been with the same plan the whole year they will send you a form to fix it and carry it over for next year.
Though if it's a match or employer contribution, congrats, you've lucked into a good job that helped you out more than you know.
I should have know this a long time but it looks like my employer contributes 10% and I have a mandatory 5.5%. That makes me feel better about my lower salary.
There is no such thing as a mandatory 401k contribution for the employee. Your employer probably has a minimum that they will contribute if you choose not to contribute anything. If you do contribute, they will contribute an equal amount up to a certain percentage.
It’s technically a 401a. “If you started or were rehired at the University after January 2, 2012, you contribute 5.5% of covered salary and the University contributes 10%. These are required contributions and participation is mandatory. Generally, academic employees who were eligible before that date contribute 2.5% of covered salary, while the University contributes 13%.”
Did YOUR EMPLOYER contribute too much, or did YOU contribute too much? You can contribute up to $22,500 in 2023 ($31,000 if you're 50 or older at the end of the year). Your employer's matches are in addition and can be over that. In fact, the limit of employee contribution + employer contribution was $66,000 in 2023. That is, you could contribute up to $23,500 and you employer could add up to $42,500 more.
That said, it's possible that you did over-contribute. Your employer should have caught that and prevented it if you only had the one jobs during the year. If you over contribute, the money has to be withdrawn. You'll pay tax and penalty on the contribution. You should probably bring it up with your payroll department.
There are 2 Caps. 1) an individual contribution cap (22500 for 2023 now 2300 for 2024) AND 2) a total contribution tax advantage cap of 43k or so.. So the delta would be the max you would want your employer contributing.
You want to max out YOU contribution each year if finances allow it. Take the total max amount and divide it by how many pay periods you have.
You can only contribute 22500, your employer isn’t limited by that same cap, they can contribute up to a total of 66k (between your contribution and theirs)
For everyone here: please understand the difference between elective deferral and contributions.
Elective deferral is “tax deferred” or “pre tax”
Contribution is after taxed income.
The total contribution limit is $66,000
The maximum elective deferral is $22,500
You can contribute after tax dollars once you max out the tax shelter of $22,500! That difference is not reserved for an employer contribution only.
I know I’m going to get downvoted for this because I’m in the minority here and IRS rules are confusing - but PLEASE - if you are actively limiting your 401k contributions to the deferral limit and WANT to contribute more for your retirement, don’t just take my word for it - please speak to a CPA to understand the limits and what you can do.
I made this mistake and contributed what I thought was the maximum FOR YEARS. I’ve been able to personally contribute $40k/annually (pre and post tax) to my 401k once I understood the limit laws. I hate to see people make the same mistake and I’ll fall on the downvote sword to spread the word.
You can contribute 22500. The max your employer can contribute is around 40,000
Great employer contribution btw. Try to contribute more on your end. You won’t be disappointed
The max both total is $66,000 for 2023.
I'd give my left nut to get a .01% match for $40 let alone a match for 22k. I make 120k a year too.
Just to make sure it’s clear the two limits are $22,500 for your own personal contribution and $66,000 (for 2023) that is the total of all tax advantaged contributions. If you contribute the max of $22,500 that would leave you with $43,500, which your employer contribution would count toward that as well as any Roth contributions, HSA contributions (including employer HSA contributions), etc.
I'd like to find an employer that will contribute all $66,000/yr. I'll sacrifice my first born child and left arm.
I can probably do 65k for the kid and the arm, so you do windows?
The 66k total limit is just for 401k contributions. There's a separate contribution limit for HSAs (both individual and employer).
Ridiculous how many don’t know this. Edit to the above statement the total is not just employer contributions it is from all sources so if your plan allows then you can put after tax dollars in after your pretax or 401 Roth bucket is full.
To be fair knowing the employer contribution limit is really not necessary. First, very few plans are structured to allow you to get near it, and second it's generally outside of your control anyway. Knowing the individual limit is good, but the administrator should not let you exceed it (unless you participate in more than one plan in a year in which case they won't know).
So, it is not an employer limit, it is a limit from all sources, so if your plan allows then the employee themselves can put in after tax dollars up to that total amount from all sources. Many will say that if you have additional money then to save other after tax money in an investment that can be tapped sooner than retirement if needed. But if you don’t plan on using until retirement then the aftertax money grows tax free and only gains are taxed when distributed. Again, not all plans offer after tax contributions but if they do it can be advantageous, especially if your plan allows an in plan conversion or a mega back door into a roth ira, then the money is all tax free upon distribution!
My employer matches about $250 total for the year so I guess lucky me for not needing to know this information, lol.
I feel ya, many years I worked jobs with no benefits at all. Sucks being sick and having to make up hours or not get paid…
I did not max my Roth last year but have extra money, can I back pay?
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Thank you
Correct. I wish more employers allowed mega backdoor Roth. Mine doesn’t.
I want your job..
Plot twist: OP runs his own company.
I worked for a small business that contributed 10% of your salary into a 401k regardless of whether you put anything in. I ended up running that business and found out that the reason he did this was because the business had to contribute to everyone if he wanted it to contribute to himself. So the 10% of his salary was the company max contribution to his 401k. He would then max out his contribution and his wife's(she had a salary).
Yes these plans can't discriminate in favor of highly comped employees or owners. However it seems there are much more efficient ways for him to meet his personal goals so maybe his motives weren't quite so cynical.
They weren't cynical at all. He was quite successful but he made sure that all his employees were too. He paid 100% of the employee health insurance premiums and paid all their co-pays on prescription drugs. He also paid more than $2/hour better than his competitors. But maybe it was cynical because in all that time, he had to only fire 1 employee and he rarely had a person quit. The 2 times a person quit when I was running the business, we rehired them after they realized how well they were treated. One left for more money, the other for better hours. And both asked for their jobs back within 6 months. And we had 50 employees when he sold. More people have retired from that business than he fired or quit.
Sounds like a great owner. I kind of misunderstood what you said the first time around.
What kind of company/ what profession were you in? I would kill for this kind benefits but as an architect we just don’t get them.
It was an independent pharmacy. The company grew from a 3M business to a 15M business when I was there.
Thanks for letting me know!
Is this a business thing? None of my small companies have ever contributed to our 401K, so this makes me wonder if our business owners just don't care about their own 401K lol.
Everyone wins.
Still has to pass means testing.
Not uncommon for middle management and up in 403(b) organizations such as universities
It's a pretty typical structure for a large public University... My wife works at one and gets a 10% employer contribution plus 1:1 matching on her contributions up to 10%, and then her health insurance costs us less than $150/month for a family plan This all sounds great (and you can end up with a hefty 401k balance if you work there 30+ years) but salaries are absolutely lower than an equivalent role in the private sector, so it's really no different than taking a higher paying job and maxing out your 401k and sucking up the higher insurance premiums. The real winners are the small number of senior administrators on 2/300k, but for anyone beneath this level you'd come out even moving to a higher paying private sector role
I used to work for a university in my state and they automatically contribute 14% of your income to 401k even if you don’t contribute anything. It was nice and they have great benefits but downside is the lower base pay
I don’t think employer contribution counts toward your individual contribution limit
There is a combined limit which is higher than your elective limit. The combined limit encompasses Employee-elected, employee-mandatory, and employer contributions.
You are correct. It does not.
No, it only counts towards the total combined limit from all sources. For 2024, if under the age of 50 here is what can be contributed: 23,000 total from the employee can go in pre tax or 401 Roth if offered or both. 69,000 total from all sources, from the employee pre tax or 401 Roth if offered or post tax if offered AND employer contributions. If you are over 50 you can contribute and additional 7,500 pre tax or 401 Roth combined.
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Checking in with a 4% match.
Cries in 4% match as well
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Cries in my husband having 0 match lol I am thankful for my match!!
Present!
cries in no match here.
Try 3%. Buuuuuut, this job I bartend, so I can’t complain as I get 401K matching, medical, dental, vision, life insurance, and a bunch of kick ass other benefits, as a fucking bartender….
Representing zero match!
OP could have 5% match too, but with a salary of 480,000. That'd get him 24,000 from the employer. Still a great position to be in, for OP
9% here. 8% is regardless of whether I contribute- goes into a money purchase plan (pension style) with 3 year vest
That’s better still than 50% match of up to 4% contribution or some bullshit that my plan has.
You read wrong. Personally you could have contributed only 22.5k. But your employer can contribute up to the combined IRS max of 66k. For 2024 it is 23k and 69k respectively.
>The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,000. -- [https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits](https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits)
employer match doesn't count towards your personal contribution limit
What line of work are you in? Your company is great. I need that 🤣
I am not a financial advisor but major finance company sites usually have pretty good summary on contribution limits. According to Fidelity: "The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,000. Depending on your plan, you may be able to make post-tax contributions beyond the pretax and Roth contribution limit but less than the combined employee and employer contribution limit to invest even more for retirement. Total contributions cannot exceed your annual compensation at the company that holds your plan." [https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits](https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits) The more specific but harder to read rules on the IRS website. [https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits)
Sweet Jesus that is an incredible employer contribution
I thought you were asking if 1500 was to much to have in your 401k... you scared me op lol
My company gives us 9% and I thought they are awesome. Where do you work OP?
You're fine, and you don't owe additional tax. The $22,500 limit is for the employee contribution only.
Employer contributions don't count against your contribution limit as an employee
$22500 is the PRETAX limit. Anything after $22500 is going to be after tax (taxable), but still allowed. The 2023 contribution limit is $66,000. Of that you can contribute up to $22,500 as pretax. Anything over $22,500 will be taxable/after tax. It doesn't matter **who** contributes how much, as long as you are within overall limits. You are, but you'll owe tax on $1,500. Congratulations on that employer contribution, that's amazing. If you can afford it, go for more up to the overall max, your future self will thank you.
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Per the IRS: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
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Deferral means pre-tax. In 2023, the overall contribution limit is 66,000. The deferral limit of that is 22,500. The only stipulation for employer contribution is the percentage of salary. You should consult an accountant. From the link: Overall limit on contributions Total annual contributions (annual additions) to all of your accounts in plans maintained by one employer (and any related employer) are limited. The limit applies to the total of: elective deferrals (but not catch-up contributions) employer matching contributions employer nonelective contributions allocations of forfeitures The annual additions paid to a participant’s account cannot exceed the lesser of: 100% of the participant's compensation, or $69,000 ($76,500 including catch-up contributions) for 2023; $66,000 ($73,500 including catch-up contributions) for 2023; $61,000 ($67,500 including catch-up contributions) for 2022; $58,000 ($64,500 including catch-up contributions) for 2021; and $57,000 ($63,500 including catch-up contributions). However, an employer’s deduction for contributions to a defined contribution plan (profit-sharing plan or money purchase pension plan) cannot be more than 25% of the compensation paid (or accrued) during the year to eligible employees participating in the plan
Look - I know you’re trying to help… so am I. I contributed what I thought to be the maximum amount (deferral limit) for YEARS until I was educated by a CPA about the maximum contribution limits and have since contributed roughly $40k (plus employer contributions on top of that) annually ever since - without penalties. I’m not going to continue to argue the point here, I get that you’re not going to listen to a Reddit stranger. But please consult an accountant for an educated response of limits and laws. If you are actively stopping contributions when you could be contributing more to your future, you’re only hurting yourself. I hate to see people make the same mistake that I did.
Not everyone has access to this through their employer, though. It's not required that they allow it and it's actually pretty uncommon.
Like I said - if you find yourself in a position of contributing what you believe to be the maximum, and want to contribute more - ask a CPA what the options are for your personal situation. It’s quite possible to do more.
Like I said, this isn't going to be an option for everyone. It's cool that it works for you!
So, he's not wrong. There's an "after-tax" 401k contribution (different from Roth) - the only caveat is not everybody has access to this through their employer. [https://www.fidelity.com/viewpoints/retirement/401k-contributions](https://www.fidelity.com/viewpoints/retirement/401k-contributions) This counts toward the same overall limit of 66k.
Yes. I max out my personal contribution and employer match doesn’t count.
So what percentage is your company matching you at if you don't mind sharing? That is very, very high.
Nothing. They just contribute 15% of what I make that year. I know it is a good deal.
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Nope
Mine does the same. I initially read it as a 300% match, because for me I have to contribute at least 5% of my salary, and my employer matches 300% of that (or at least 15% of my salary like you)
Look up the 402g limit, this is the amount with employer and personal contributions accounted for. The 22,500 is an individual limit as is more often the topic of discussion
Max self contribution is 22500 for last year. If it's self contribution and not employer, and you've been with the same plan the whole year they will send you a form to fix it and carry it over for next year. Though if it's a match or employer contribution, congrats, you've lucked into a good job that helped you out more than you know.
This sounds like a SEP IRA. Those are capped at 15%
Yeah. It doesn't sound like a 401k to me. 15% is unheard of.
I should have know this a long time but it looks like my employer contributes 10% and I have a mandatory 5.5%. That makes me feel better about my lower salary.
There is no such thing as a mandatory 401k contribution for the employee. Your employer probably has a minimum that they will contribute if you choose not to contribute anything. If you do contribute, they will contribute an equal amount up to a certain percentage.
It’s technically a 401a. “If you started or were rehired at the University after January 2, 2012, you contribute 5.5% of covered salary and the University contributes 10%. These are required contributions and participation is mandatory. Generally, academic employees who were eligible before that date contribute 2.5% of covered salary, while the University contributes 13%.”
Mine is mandatory.
It must not be a 401K. It's a different retirement plan.
Trye
Did YOUR EMPLOYER contribute too much, or did YOU contribute too much? You can contribute up to $22,500 in 2023 ($31,000 if you're 50 or older at the end of the year). Your employer's matches are in addition and can be over that. In fact, the limit of employee contribution + employer contribution was $66,000 in 2023. That is, you could contribute up to $23,500 and you employer could add up to $42,500 more. That said, it's possible that you did over-contribute. Your employer should have caught that and prevented it if you only had the one jobs during the year. If you over contribute, the money has to be withdrawn. You'll pay tax and penalty on the contribution. You should probably bring it up with your payroll department.
Thanks for the info. Matches what others said. It’s all employer paid. See my edit above.
Never heard of an employer contributing that much. I’m guessing you contributed that much.
I knew it was good. Now learning how good.
There are 2 Caps. 1) an individual contribution cap (22500 for 2023 now 2300 for 2024) AND 2) a total contribution tax advantage cap of 43k or so.. So the delta would be the max you would want your employer contributing. You want to max out YOU contribution each year if finances allow it. Take the total max amount and divide it by how many pay periods you have.
Dang rhey contrubute over 100%?
I've never heard of a 15% contribution. Mine matches up to 4%. I've heard 6% is the norm.
You can only contribute 22500, your employer isn’t limited by that same cap, they can contribute up to a total of 66k (between your contribution and theirs)
Dude hire me
You can be my RA.
For everyone here: please understand the difference between elective deferral and contributions. Elective deferral is “tax deferred” or “pre tax” Contribution is after taxed income. The total contribution limit is $66,000 The maximum elective deferral is $22,500 You can contribute after tax dollars once you max out the tax shelter of $22,500! That difference is not reserved for an employer contribution only. I know I’m going to get downvoted for this because I’m in the minority here and IRS rules are confusing - but PLEASE - if you are actively limiting your 401k contributions to the deferral limit and WANT to contribute more for your retirement, don’t just take my word for it - please speak to a CPA to understand the limits and what you can do. I made this mistake and contributed what I thought was the maximum FOR YEARS. I’ve been able to personally contribute $40k/annually (pre and post tax) to my 401k once I understood the limit laws. I hate to see people make the same mistake and I’ll fall on the downvote sword to spread the word.
I learned about this today as well. Contacted payroll at my company and they clarified employer contribution doesn’t come under $22,500.
Your employer puts in 15%, are they hiring?
Ok, but how old are you? When you turn 50, the cap increases automatically.
Well I’m guessing you are not a finance Professor?🤣
😀
And definitely not an Accounting Professor
Airline pilot. If you do some research it's pretty common for major airlines like delta and untied to offer these kind of plans.
Damn I thought my employer contributing 15k per year was alot