Originally Posted by
RJSAviator76
I know what you're trying to say. I'm just poking fun at how your post came across...
I do think it's worth looking into and possibly structuring it differently. With the current setup, I've been getting excess every year because I pick up extra. I've voted every year to put it all in the PS account because it assures me that I will hit 415c limits. That's very important to me.
Personally, I'd like the option of rolling all of previous year's PS payout into the current year's 401k, so I don't get hit with 22% tax and actually max out my 401k contribution for the year with previous year's PS. It's doable as is by changing our individual contributions for a month or two, but that's way clunky. By being able to roll it all into the current year 401k, we'd dodge the 22% tax hit without the Rabbi Trusts being the only way to avoid that tax hit.
Fair enough. Let me rephrase it...Until YOU are going to pay my bills, why should YOU have a say in where my money goes? WE should push to change that. Better?
I pick up and get spillover PS too as a junior-ish FO...there are several junior guys to me that have expressed their preference for more individual control over the money. It can be an individual decision if we push the company to change the structure of the plan, and that was all I was trying to say...selfish sounding or not. Sounds like we're on the same page.