UAL B Fund
04-29-2016, 11:37 AM
#12
Gets Weekends Off
Thread Starter
Joined APC: May 2014
Posts: 273
Originally Posted by cadetdrivr
And specifically the limit is the combination of the employee pre-tax and Roth contributions. You can mix at whatever ratio you desire.
For example, I'm depositing post-tax $$$ into the Roth every month.
For example, I'm depositing post-tax $$$ into the Roth every month.
04-29-2016, 11:49 AM
#13
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Joined APC: Nov 2009
Posts: 5,192
Originally Posted by BeechPilot33
So for the employee contribution it's 18,000$ limit TOTAL? I thought you could put 18k in your 401k and 18k in the 401k Roth and 5,500 in a non IRA Roth. (If you were under the income limits) And then 53k total for employee + employer contribution for the 401k.
402g limit is 53,000 total. 35k employer, 18k employee. You'll make too much to qualify for a Roth IRA.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
04-29-2016, 11:55 AM
#14
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Joined APC: Feb 2011
Posts: 3,866
Plus $6k once 50 years old, so $59k. Also, at the higher incomes ($218,750), once the company exceeds $35k contribution you have to reduce your own 401k contribution to prevent anything over the limit going into the pilot's (and pilots') health account, unless you want it to.
04-29-2016, 12:51 PM
#15
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Joined APC: Aug 2011
Position: Hoping for any position
Posts: 2,504
Originally Posted by Grumble
402g limit is 53,000 total. 35k employer, 18k employee. You'll make too much to qualify for a Roth IRA.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
But this is a pilot board and your talking finances so.....there's that.......
04-29-2016, 01:54 PM
#16
UCH Pilot
Joined APC: Oct 2014
Position: 787
Posts: 776
Originally Posted by APC225
Plus $6k once 50 years old, so $59k. Also, at the higher incomes ($218,750), once the company exceeds $35k contribution you have to reduce your own 401k contribution to prevent anything over the limit going into the pilot's (and pilots') health account, unless you want it to.
04-29-2016, 03:01 PM
#17
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Joined APC: Jul 2015
Posts: 859
Originally Posted by svergin
Also if you have self-employment income from a side job you have yet another $59k bucket to put funds into a SEPIRA as long as its income from the 1099 income. So you can put $118,000 away tax free each year.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
04-29-2016, 03:09 PM
#18
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Joined APC: Jun 2007
Position: 767/757 CA
Posts: 2,609
Originally Posted by ReadyRsv
At what point is this excessive?
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
04-29-2016, 03:31 PM
#19
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Joined APC: Apr 2010
Posts: 694
My $.02
If you go into retirement and it feels like you've doubled or halved your usable income, you saved too much/little respectively.
If you go into retirement and it feels like you've doubled or halved your usable income, you saved too much/little respectively.
Originally Posted by ReadyRsv
At what point is this excessive?
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
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