I can't seem to find the answer...someone brought up that if you make over 265K (I think base salary), then you are limited in what can be contributed to 403b/401k. Seems to affected employer match/contributions? Does it affect my contributions? Very confused and did more than a simple google search and couldn't figure it out. Thanks in advance.
X
-
I believe $265,000 is the maximum amount an employer can use when calculating matching contributions. This is determined by the IRS, and I believe may be going up to $270,000 next year.
There are others on this forum far more knowledgeable than I am on this topic.
-
I believe $265,000 is the maximum amount an employer can use when calculating matching contributions. This is determined by the IRS, and I believe may be going up to $270,000 next year.
There are others on this forum far more knowledgeable than I am on this topic.
Click to expand...
That's right.
https://www.irs.gov/retirement-plans/401k-plans-deferrals-and-matching-when-compensation-exceeds-the-annual-limit
And it is going up to $270k for 2017. Good research!Kon Litovsky, Principal, Litovsky Asset Management | [email protected] | 401k and Cash Balance plans for solo and group practices, fixed/flat fee, no AUM fees
Comment
Channels
Collapse
Comment