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401k Tax Deferment Max

Posted on 4/2/14 at 4:22 pm
Posted by mule74
Watersound Beach
Member since Nov 2004
11286 posts
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?
Posted by Teddy Ruxpin
Member since Oct 2006
39553 posts
Posted on 4/2/14 at 4:24 pm to
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
Posted by DawgCountry
Great State of GA
Member since Sep 2012
30541 posts
Posted on 4/2/14 at 4:58 pm to
Me too
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 4/2/14 at 5:01 pm to
I thought the employer had no limit on contributions. The more you know
This post was edited on 4/2/14 at 5:01 pm
Posted by TheDiesel
Phoenix
Member since Feb 2010
2608 posts
Posted on 4/2/14 at 5:04 pm to
I thought the $17,500 was a combined max for employee and employer. I feel pretty dumb now.
Posted by Boh
Baton Rouge
Member since Oct 2009
12357 posts
Posted on 4/2/14 at 10:02 pm to
Employer can't contribute any match amount on earnings over 250k or so
Posted by AndyJ
Member since Jul 2008
2753 posts
Posted on 4/3/14 at 7:51 am to
As an independent contractor, how much tax deferred money can I put away (no match obviously)? I hope it's not just 17500...
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