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Old 08-21-2022, 08:51 AM
  #102  
DLax85
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Joined APC: Jul 2007
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Originally Posted by pinseeker View Post
… Even the money from your sick bank with a full disability bank is your money. If you had already reached the IRS maximum, the company gives you a check, it doesn't just go away….
Yes - this is True if the company tries to put your sick bank $$ into your 401K/B fund accounts

However - it’s false if the pilots contributes $12,650 or more in ROTH 401K contributions after maximizing their pre-tax 401K contributions

$61K Max = Pre-Tax 401K + Roth 401K + Company $500 match + Company B Fund Max

$61K Max = $20,500 + Roth + $500 + $27,450

Thus Roth max = $12,650

If you make $305K or greater, and put in more than $12,650 in additional Roth contributions, you’ll be forgoing “free B Fund money” from the company

These numbers change each year, but ambitious savers need to keep paying attention

(Note: You’ll always get your Sick Bank payout, it just may be taxable)

Last edited by DLax85; 08-21-2022 at 09:18 AM. Reason: Clarity
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