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Is there a limit on the amount of employer contributions to your 401K?
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Does the 401K contribution limit for 2008 include employer matching contributions or is the limit only on employee contributions?
The contribution that is matched by an employer is not counted towards a 401k contribution limit. If someone contributes the maximum IRS allowed amount each year, still the employer's matching contribution would be in addition to that limit.
What percentage of your income can you contribute to your 401k?
There is no limit based on percentage of income. However, most employer plans set a limit as a percentage of salary. Check with your employer for the limit they have set. The law allows them to set a limit as high as 100% of your salary, though I know of none that actually has a limit that high. The limit on before-tax contributions and Roth 401k contributions for 2009 is 16,500 ($22,000 if you are 50 or over) per taxpayer, no matter how many employers you have. There is also a limit of $49,000 total including all employer and employee contributions (before or after-tax) per unrelated employer. (Few employers allow employee after-tax contributions.)
What is the maximum 401k contribution per month?
There is no limit set by IRS on a per month basis, however there is an annual limit to your contributions. Some employers do create restrictions on how much of your salary you can contribute, but that varies from employer to employer. Assuming that you want to maximize your 401k for the year and you want to contribute an even amount per month, then you would contribute $16,500/12 = $1,375 per month. This does not include your employer match.
Will 401k distribution affect unemployment insurance in CT?
To the extent that your 401k distribution includes Employer contributions, a percentage of the distribution would be used to offset your unemployment benefit. If there are no Employer contributions there would be no effect on your benefits.
What does previous employer total compensation means?
Previous Employer Total Compensation Refers to the total amount of money (Could include straight salary, bonus, value of benefits, 401k contributions) that was paid to you by your previous employer.
What is the maximum after tax 401k contribution?
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.
What is a 401k contribution limit?
A 401k contribution limit is the maximum amount a person can contribute towards their plan each year. This limit is set by the IRS and this amount can change year on year.
Can an employer allow you to contribute to your 401K based on your gross earnings but set a cap at which they quit contributing?
Yes the employer usually has a limited amount that they will match depending on the amount that you contribute to the 401K plan.
How do I open a 401k?
Go to an investment broker (many banks have these) and open the account. You'll need to decide how much of your paycheck you want to put into the 401k. Note that there is a maximum amount that can be contributed to this account tax-free. I would first check with your employer as to whether there is a company sponsored 401k available. Many times your employer will match your contributions up to a certain percentage.
What are the 401k's maximun contributions?
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 .
How much money can be put in a 401k?
Although the amount you may contribute to your 401k varies by year, in 2012 one could contribute up to $17,000 to their 401k. Remember that one's employer may not match your contribution up to this amount.
What is the employer contribution for 401k?
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.
