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Originally Posted by rahc
(Post 1772113)
Not sure where you are getting the $39k number from.
Your max contribution is $17,500 for 2014 There is also a $5500 allowance catchup if you are of age 50. Total max contribution is $52,000 for 2014. technically speaking, if you were to put $0 in, the company could place $52k in. For 2014, IRS Issues 401(k) and Pension Plan Limits Just an fyi..... The company's max contribution is $39,000 based on an income of $260k. ANY further donations to Obama's new pay off the debt bank account must be made by you, up to the maximum of $52,000. And I vote for No. 2 being my favorite! And that is a heavily photoshopped pick of Saban's little girl who beats up fellow sorority girls! |
Originally Posted by Piklepausepull
(Post 1772143)
Just an fyi.....
The company's max contribution is $39,000 based on an income of $260k. ANY further donations to Obama's new pay off the debt bank account must be made by you, up to the maximum of $52,000. BTW what is "Obama's new pay off the debt bank account?" |
Originally Posted by Pro Fessional
(Post 1772160)
It should be pointed out that $52,000 is the maximum annual contribution limit from all sources. The company 15% contributions will stop flowing into your 401k when you reach $260,000 income for the year or $52,000 in total contributions (not counting the $5500 catch up contributions), whichever comes first. When that $52,000 limit is reached the company 15% contribution will continue to be paid to you as taxable income, and you will no longer be eligible to contribute to your 401k (except the $5500 catch up portion.) The company contributions are pensionable whether paid into your 401k or paid as taxable income so it is effectively a 17.25% contribution.
BTW what is "Obama's new pay off the debt bank account?" The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,500 to $18,000. The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $5,500 to $6,000. The limitation for defined contribution plans under Section 415(c)(1)(A) is increased in 2015 from $52,000 to $53,000. The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C) and 408(k)(6)(D)(ii) is increased from $260,000 to $265,000. |
Originally Posted by Pro Fessional
(Post 1772160)
BTW what is "Obama's new pay off the debt bank account?" "What we want to do, we want to take your 401(k) at its August level, before the crash. We'll give you that equivalent and put it in your Social Security account, essentially, and we're going to invest that money that we take from your retirement account, your 401(k), at its August level. We're going to buy government bonds with it, which will guarantee you 3% -- and then we will require that you put 5% of your pay into your 401(k) although it's not yours anymore. "The government owns it. They will manage it. They will take care of it, and then when your retirement day comes you'll get your Social Security check and part of your check will be whatever your 401(k) monthly payout is, after 3% of growth every year under the stewardship of the government." Now ending the tax breaks on 401ks is definitely something some folks in Congress really want to do because that, cough cough, costs the government a lot of money. |
Teresa Ghilarducci: Why the 401(k) is a “Failed Experiment” | The Retirement Gamble | FRONTLINE | PBS Teresa Ghilarducci: Why the 401(k) is a “Failed Experiment” | The Retirement Gamble | FRONTLINE | PBS
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DAL Stock?
What is going on with the stock? Not that I am complaining or anything.
I did not see anything significant in the news. Scoop |
Originally Posted by Scoop
(Post 1772207)
What is going on with the stock? Not that I am complaining or anything.
I did not see anything significant in the news. Scoop |
Thank god I can fly airplanes, because I'd be broke if I had to be a stock picker. (I sold my delta shares at $15).
I like the idea of using oil investment as a hedge against our careers. (oil goes up / airlines suffer). I'm thinking about dollar cost averaging into an oil heavy energy fund. Anybody got insight into why that would be a bad idea at this time? |
Originally Posted by nwaf16dude
(Post 1772212)
OPEC meeting ended, lots of squabbling, but the bottom line is they couldn't come up with a consensus to restrict production, so oil is headed lower, as in off a cliff. Some in OPEC want the price to go low enough to make US shale oil uneconomical.
Makes sense. This has been going on since OPEC first came together. The Saudis have hundreds of years of "known oil reserves" in the ground and have always been much more conservative than many other OPEC members. The Saudis know that sustained higher prices will accelerate research and development into oil substitutes, and with the largest know reserves, have the most to lose if viable oil substitutes should hit the market. Ideally the Saudis would like to keep oil at a "sweet spot" that will continue to provide them with billions for years to come, but at the same time low enough to keep alternatives economically non-viable. Scoop |
Originally Posted by Scoop
(Post 1772222)
Makes sense. This has been going on since OPEC first came together. The Saudis have hundreds of years of "known oil reserves" in the ground and have always been much more conservative than many other OPEC members.
The Saudis know that sustained higher prices will accelerate research and development into oil substitutes, and with the largest know reserves, have the most to lose if viable oil substitutes should hit the market. Ideally the Saudis would like to keep oil at a "sweet spot" that will continue to provide them with billions for years to come, but at the same time low enough to keep alternatives economically non-viable. Scoop Funny though, you never quite feel the sympathy for a struggling oil industry throughout the press as you do when oil is going up.... |
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