• Date Started: Sep 25, 2006
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401k question

5 Responses to “401k question”

1. Broken Arrow Says:
   January 3rd, 2007 at 07:57 am
   Strange. I know they can determine their match, but I didn't realize that they can set the max limit as well? Well, after the employer match, it's just as well to go with a separate IRA anyway....
   
   I'm going to keep an eye on this entry to see if someone else would know. I'm curious about this as well.

2. HouseHopeful Says:
   January 3rd, 2007 at 07:59 am
   I have that at my work too. I'm not sure why they do or can cap it though.

3. Broken Arrow Says:
   January 3rd, 2007 at 11:14 am
   Hmm, I would also recommend to ask this question in the forums. That should garner more aid.
   
   Since I'm here, I don't believe it can be capped. Or, at least Uncle Sam doesn't. They'll just tax anything beyond the IRS limit.

4. LdyFaile Says:
   January 3rd, 2007 at 12:40 pm
   I'm capped at 15% and my employer doesn't match any of my contributions. I was up to 8% at one point but decided to drop it down to 3% so I can still be contributing something but have more money to throw at debt.

5. frugalmomof1 Says:
   January 3rd, 2007 at 12:59 pm
   I talked to a few co-workers that are contributing 6% and 7%, so I contacted HR again. I guess she was *confused* thinking that I wanted to increase my contribution hoping to get a higher employer match, which is the lesser of 5% or $30/week.

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