|
|
Post by uhuh on Feb 16, 2011 11:50:19 GMT -5
My employer decided to contribute 1 percent of the base salary towards 401k as a "thank you" for job well done in 2010.
My question is will this contribution be counted towards $16,500 limit? I maximize this to the limit.
Lets say I earn $50,000 in base salary. I was able to put $16,500 towards 401k. Will the employer's contribution of $500 be included in this? Is that fair?
Am I making sense?
|
|
dancinmama
Senior Associate
LIVIN' THE DREAM!!
Joined: Dec 18, 2010 20:49:45 GMT -5
Posts: 10,659
|
Post by dancinmama on Feb 16, 2011 12:10:04 GMT -5
My employer decided to contribute 1 percent of the base salary towards 401k as a "thank you" for job well done in 2010. My question is will this contribution be counted towards $16,500 limit? I maximize this to the limit. Lets say I earn $50,000 in base salary. I was able to put $16,500 towards 401k. Will the employer's contribution of $500 be included in this? Is that fair? Am I making sense? No, the employer's contribution does not count toward the limit that YOU can contribute. |
|
