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To: accountclosed who wrote (84415)2/9/2000 11:15:00 AM
From: Skeeter Bug  Read Replies (1) | Respond to of 86076
 
>>say a high earner like a 480,000.00 salary person which is 40,000.00 per month salary...they would reach maximum contribution by the end of the first month...<<

speaking from experience? ;-)



To: accountclosed who wrote (84415)2/9/2000 8:21:00 PM
From: jttmab  Respond to of 86076
 
. 1. maximum contribution to a 401k is 10,000.00 annually.
2. maximum contribution is 25% of salary.

You can make higher contributions than the 10,000, but they are not tax deferred though any future earnings would be; also employer contributions, i.e., matching funds are not counted against the maximum tax deferred contibutions. At least that's what I think... <g>

May you be on the right side of the trade,
jttmab


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