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re: IRA early withdraw to fund another. (Update)

Posted on 10/1/12 at 1:57 pm to
Posted by Catman88
Baton Rouge, LA
Member since Dec 2004
49125 posts
Posted on 10/1/12 at 1:57 pm to
quote:

Last week the wifes employer announces they will match up to 15k of any contribution for the remainder of the year


You mean he is taking out 15k to make up his wife's shortened about of income right?? Is the employer really going to match outside of her paycheck? Never heard of that.
Posted by ZereauxSum
Lot 23E
Member since Nov 2008
10176 posts
Posted on 10/1/12 at 2:27 pm to
quote:

Is the employer really going to match outside of her paycheck? Never heard of that.


My understanding (and I believe the OPs as well) is that the wife would increase her pretax contributions from her paycheck and the husband would cover the decrease in take home pay with the IRA money.

I don't think you can put after tax dollars in a 401k. Could be wrong though.
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