Originally Posted by
Adlerdriver
I'm not clear on what you're trying to calculate. Would you mind backing up a few steps and trying to lay it out in detail (maybe like you were writing one of those "For Dummies" books
)
Look at it like this:
$54,000 IRS 415C limit (those under age 50)
$270,000 income *.08 (B Fund) = $21600
401K contribution $18000
401k FDX match $ 500
Extra 5% of income (270k max) $13500
TOTAL $53600
50 and over catch up $ 6000
NEW TOTAL $59600
This allows you to stay under to IRS 415C limit of $54000 of those under 50 and the $60000 age 50 and up.