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Hmmmm (benefit talk. amanda wya?

Posted by ty97 May 5 '21, 12:45

I currently get the following 401k contributions from my employer:
- 2% automatic contribution
- 100% match up to 6% of my contributions

I.E. I get 8% employer contribution since I give more than 6%.

This will change going forward:
- NO automatic contribution
- 100% match up to 6% of my contributions
- Salary will be adjusted to make up for the automatic contribution I used to get

I preferred the extra 401k contribution, but I guess not the end of the world

Responses:

Is the raise dollar for dollar, or will they gross it up account for the fact that it’s now taxable? -- nm - znufrii May 5, 13:39
it's not terrible. Ultimately most are getting less money but it'll save the company a ton -- nm - decline May 5, 12:55
can't you just contrib the extra 2%? or would that overmax you? - amanda jeans May 5, 12:51 1
- I already max out -- nm - ty97 May 5, 12:54
I'd take the second option. You boost your salary history with SSA, and it shouldn't affect current tax liability - Max May 5, 12:50 3
- doesn't SSA max? 401ks max. roth has income max. -- nm - amanda jeans May 5, 12:51 2
  - I phase out on SS tax in 4Q. I max out my 401K. I backdoor the max amount to Roth. -- nm - ty97 May 5, 12:55 1
    - I think it's time for pmb to pass the monocle! -- nm - Max May 5, 13:06

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Hmmmm (benefit talk. amanda wya?

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