The option works as follows assuming you are age 50 or older. You make make an extra $5,500 pretax contribution to your 401k plan on top of your regular pretax contribution limit.
Contributions in 2010 will be $16,500, the same as 2009. These contribution maximums did not change from 2009 maximums as the relevant cost-of-living index did not increase year over year. Also, catch-up contributions for 2010 will remain at $5,500.
When an individual has front loaded his contributions to the 401k and has reached the maximum limits prior to the end of the calendar year. He has foregone the company matching on his contributions. The true-up feature, looks back to see how much the company should have matched had the employee not frontloaded his contributions and then "trues-up" the difference between what was matched and the maximum amount that could have been matched.
form_title=Roth 401k form_header=Start investing in your retirement by opening up a Roth 401k account. Find a personal finance expert to help you reach your retirement goals! Do you know the difference between a standard and Roth 401k plan?*= () Yes () No Do you currently have money invested in another 401k plan?*= () Yes () No Are you interested in converting a 401k to a Roth IRA?*= () Yes () No Does your employer match your contributions to any Roth 401k plans?*= () Yes () No
The Human Resources office where you work should be able to get an answer for you.
The 2009 Annual Compensation limit is $245,000 Compensation Limit to be defined an HCE (Highly Compensated Employee) $110,000 Edit: I believe this is what you are looking for other limits for 2009: Maximum Pre-Tax Contribution $16,500 Maximum Catch Up Contributions for age 50 and older $5,500
Maximum 401k contribution over 50 includes both the general contribution limit and the catch-up contribution, which has increased for . Maximum 401k contribution over 50 includes both the general contribution limit and the catch-up contribution, which has increased for .
$5500
The 415c limit is $49,000. This includes all pretax, aftertax, roth, catch up contributions, and employer match. There's not a maximum specifically for aftertax.
Contributions in 2010 will be $16,500, the same as 2009. These contribution maximums did not change from 2009 maximums as the relevant cost-of-living index did not increase year over year. Also, catch-up contributions for 2010 will remain at $5,500.
When an individual has front loaded his contributions to the 401k and has reached the maximum limits prior to the end of the calendar year. He has foregone the company matching on his contributions. The true-up feature, looks back to see how much the company should have matched had the employee not frontloaded his contributions and then "trues-up" the difference between what was matched and the maximum amount that could have been matched.
They could set one up, I think. The federal government would not match their contributions.
That depends on the employer's plan provisions. Most match dollar for dollar up to a certain % (I have seen 2-6% from the employers I have worked with and for in the past). Check your employer's intranet site or call your benefits provider for details on your specific plan.
yes
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Yes, there is, but the amount is entirely dependent on the situation. It depends on the type of 401k plan you have - traditional, safe harbor, or simple - and it also fluctuates on a yearly basis. Both upper limits have increased from 2012 to 2013, and will also change based on cost-of-living adjustments. The amount cannot exceed either of the limits explained above, and it cannot exceed the "excess of your compensation over the elective deferrals that are not catch-up contributions". (I'm afraid I don't entirely understand this, so I'm directly quoting the resource guide from the IRS.)
The maximum contribution to a 401(k) for individuals over 50 is $26,000 in 2021. This includes the standard limit of $19,500 plus an additional catch-up contribution of $6,500 for those aged 50 and over.
form_title=Roth 401k form_header=Start investing in your retirement by opening up a Roth 401k account. Find a personal finance expert to help you reach your retirement goals! Do you know the difference between a standard and Roth 401k plan?*= () Yes () No Do you currently have money invested in another 401k plan?*= () Yes () No Are you interested in converting a 401k to a Roth IRA?*= () Yes () No Does your employer match your contributions to any Roth 401k plans?*= () Yes () No