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401k Tax Deferment Max
Posted on 4/2/14 at 4:22 pm
Posted on 4/2/14 at 4:22 pm
I've experienced a pretty nice increase in pay and am currently on a 6 to 6 matching contribution from my employer.
Is the max $17,500 deferal rate the most I can contribute tax free individually or does that include the employer contribution as well?
Is the max $17,500 deferal rate the most I can contribute tax free individually or does that include the employer contribution as well?
1
Posted on 4/2/14 at 4:24 pm to mule74
quote:
Is the max $17,500 deferal rate the most I can contribute tax free individually or does that include the employer contribution as well?
You can contribute up to 17,500. Your employer can go beyond this to some number like $51,000 or so.
ETA: $52,000 this year. So they can contribute $34,500 ($52,000 - $17,500 = $34,500)
If you work for an employer who does this, I have a resume ready.
This post was edited on 4/2/14 at 4:36 pm
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