Deleted
Joined: Nov 28, 2024 9:40:40 GMT -5
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Post by Deleted on Aug 10, 2011 7:56:54 GMT -5
I'm not sure if this is a tax question or a 401k plan question. DH just received a notice from the 401k plan administration indicating that the Company will match the catch up provision. I'm wondering if we can take advantage of this change in the program.
Throughout DH's career he's never been able to max out his contribution because he's considered highly compensated. Although he's well compensated he doesn't make a killing. The problems is that a lot of employees of the company are relatively low paid couriers so even a mid-level manager like DH is considered "highly compensated".
So here's my question, does the catch up provision of a 401k trump the highly compensated rule of the 401k?
Thanks!
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mwcpa
Senior Member
Joined: Jan 7, 2011 6:35:43 GMT -5
Posts: 2,425
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Post by mwcpa on Aug 10, 2011 18:39:45 GMT -5
I am not sure, but I think it may not.... I'd give the plan administrator a call....I would be interested in finding out.... I may call my plan administrator (if I get a sec) to see....
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