Originally Posted by
Prop LT
Is the 33% of FDP considered a direct contribution? So in theory you could contribute the $19,500 max, with company match. Then get the FDP added in on top?
They call it a “non-discretionary” contribution meaning you had no choice on the percentage of your FDP that went into the 401K. It doesn’t count against your personal contribution limit ($19,500 or $26,000 for us old farts) but it does count against the overall limit which is $58,000 or $64,500 this year, depending on your age. Theoretically, if you contributed the max (with the company match)and REALLY killed FDP, you might scare that overall limit.
The union is mulling survey data on whether to change the 33% number. Any change would be subject to a ratification vote.