401k max contribution question

[laurinsane]

Does the max contribution include the contributions made by your company or only what you contribute to your 401k plan? I've never been in the position where I've been able to max it out but I just received a substantial raise and want to max out my 401k this year. Thanks.

[RunningBum]

It's your contribution only.

[retire48in2018]

Prior poster is correct

[SecondCor521]

ditto x 2

[Buckeye]

Make sure you drag it out as long as possible so you get the max amount of matching. If you contribute the max too soon you will miss out on some matching funds.

[Ronstar]

And there is the additional 5k catchup contribution that you are entitled to contribute if you are 50 or older

[LOL!]

Quote:

Originally Posted by Buckeye Make sure you drag it out as long as possible so you get the max amount of matching. If you contribute the max too soon you will miss out on some matching funds.

Only some plans are like that. Mine is not like that.

[RunningBum]

Quote:

Originally Posted by LOL! Only some plans are like that. Mine is not like that.

My company does a "true-up" contribution to get you the right match even if you didn't space it out correctly. The only drawback is that it doesn't come until a few months into the next year, so that money isn't invested for as long as it could be.

[ExtinctBird]

There is a maximum total annual contribution that you and your employer can make, but it is above $40K currently. With my company's generous matching contribution and annual profit sharing contribution to my account, I may be lucky enough to have to worry about this some day.

[Alan]

Quote:

Originally Posted by LOL! Only some plans are like that. Mine is not like that.

ditto - check with your plan administrator. I max mine out every year well before year end and the company match continues to come in, but all plans are not structured this way, you need to check.