Originally Posted by
Grumble
So how do you get to the full 415 limit if the company stops matching because you've hit your annual contribution limit? i.e. your personal limit is $18K for 2015. Assuming the SWA only matches what you put in, that would stop you at $36K vice the full $53K... thus how do you exceed the 415 limit?
Sorry, my original quote was for profit sharing not 401(k), here is the 401(k) language:
If the pilot’s contribution reaches the “402(g) limit” imposed by the Internal Revenue Service, the Company will continue to contribute at the same rate on the amount above the 402(g) limit (including Option Exercise Profits in the year in which options are exercised), up to a maximum Company contribution in any one (1) year of twenty five thousand dollars ($25,000). To give pilots the opportunity to receive such contributions in excess of the 402(g) limit tax-deferred, the Company will maintain a tax-deferred “401(a)(17) Plan,” incorporating the current 415 Excess Plan investment options and rabbi trust provisions. Participants will be one hundred (100) percent vested in all contributions and earnings in the 401(a)(17) Plan from the date of participation.