27 pay periods in 2020

[Tiny]

I managed to max my 401K and catch up contribution with the first paycheck in Dec '19.     I've never managed to actually hit the maximums -  I'm usually a couple hundred dollars short do to my inability to do math properly and my ignorance on how paychecks that bridge the year end actually work.    My next paycheck is 1/3/2020 .

Here's my question  will the 401K deduction from the 1/3/20 paycheck be all 2020 contributions.   OR will it somehow be prorated with 7 days of pay in 2019 (so no contribution since I'm at the 2019 maximum) and 3 days of pay in 2020?      I'm hoping it's all a 2020 contribution.     

Yeah, I could wait and see how it gets allocated... but I'm trying to figure out my contribution schedule for 2020 -- as it looks like I might need a little more take home pay in April/May of 2020  (rather than in November/December 2020 if I max the contributions early). 

 

[justme]

I don't think it's pro-rated as the income you receive on the 1/3 check is all towards your 2020 income and none towards 2019. I would assume the 401k rules align with the IRS rules for income. 

[hoops902]

I can't imagine a company saying as a matter of normal practice "here is your income for 2020 but we withheld 2019 401k money from it".  I think they're almost definitely going to count it as 2020 401k contribution.

[taz157]

Paychecks are based on check date, not the period it has covers. Therefore, the contributions on the 1/3/20 check are all 2020 contributions.

[Tiny]

Thanks!.   I was assuming it would be treated as all 2020 pay.     Sounds like I can make a plan.   

[Knee Deep in Water Chloe]

Congratulations on maxing the 401K!