Originally Posted by
GeeWizDriver
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.
Two questions.
1) Are "old farts" as you put it typically contributing to a conventional 401k, a Roth, or both?
2) Do you really drive a GeeWiz? Because if you do, I hope it's for charity!