Originally Posted by
Jughead135
Not in the sense I think you mean it--the $18K refers to the "elective deferral" limit, i.e., the amount you can "elect" to put in as pre-tax ("defer"). There's no distinction between regular pay vs PS so far as the elective deferral is concerned (and, no difference on your final tax bill, either, though you may see a larger or smaller hit in the specific pay period(s) involved).
The DPSP contribution (15% "company" contribution) will still go in, pre-tax, until the total for the year hits the $53K overall limit.
If your goal is to get as much into the account as possible, you can still make 401(a) contributions (after tax), without regard to the elective deferral limit (up to the same $53K limit)--I don't know if it's possible to do so from the PS, though.
Just so there's no question about 401k stuff...
Delta will put 15% into your account until you reach an income of $265,000, then ALL the Delta money comes to you as regular pay, TAXED! That's $39,750............
You are allowed to contribute up to the max of $53,000 using $18,000 of your own money but IF you max out the Delta $$ you cannot reach the $18,000 limit, UNLESS, you're over 50, when you can contribute an extra $6000 up to $59K....
All totaled, you can't max out the Delta money and the 18k and the 6k because it's too much! (IF you earn >265k)
If you don't care about "tax free" money, then put the $18k in from your PS check in February, and the Delta money will stop at $35,000, and you'll pay taxes on the $4,750.....