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Old 06-20-2010, 02:29 AM   #1
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401K Question

I have a "profit sharing" 401k through my employer. My employer contributed $1,500 of profit sharing to my 401k this year. It showed up in my 401k balance on the 401k website, but is not reflected in my paystub at all. Is the $1,500 counted toward the $16,500 annual 401k max contribution? I can't ask my employer. They won't know the answer.

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Old 06-20-2010, 06:48 AM   #2
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Originally Posted by John Galt III View Post
I have a "profit sharing" 401k through my employer. My employer contributed $1,500 of profit sharing to my 401k this year. It showed up in my 401k balance on the 401k website, but is not reflected in my paystub at all. Is the $1,500 counted toward the $16,500 annual 401k max contribution? I can't ask my employer. They won't know the answer.

Thanks
The PSP contribution does NOT count to your $16,500 limit. There may be other limitations on the PSP contributions, but I can't imagine they'd be triggered by a $1,500 contribution.
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Old 06-20-2010, 10:47 AM   #3
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Thanks !
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Old 06-20-2010, 01:39 PM   #4
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Originally Posted by John Galt III View Post
I have a "profit sharing" 401k through my employer. My employer contributed $1,500 of profit sharing to my 401k this year. It showed up in my 401k balance on the 401k website, but is not reflected in my paystub at all. Is the $1,500 counted toward the $16,500 annual 401k max contribution? I can't ask my employer. They won't know the answer.

Thanks
It's treated the same as a match. The $16,500 is just for your personal contributions. I get a profit sharing contribution about the same as yours annually in addition to a smaller than normal match neither of which count towards the $16,500.
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Old 06-20-2010, 09:20 PM   #5
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It's treated the same as a match. The $16,500 is just for your personal contributions. I get a profit sharing contribution about the same as yours annually in addition to a smaller than normal match neither of which count towards the $16,500.
Thanks for that info about the match ! I was trying to find that info on the net, but could not.
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