Any "Latest & Greatest" about Delta?
Gets Weekends Off
Joined: Aug 2011
Posts: 2,583
Likes: 16
From: Hoping for any position
Gets Weekends Off
Joined: Nov 2015
Posts: 123
Likes: 0
From: MD88FO
Gets Weekends Off
Joined: Aug 2011
Posts: 2,583
Likes: 16
From: Hoping for any position
Delta Nonrevs can now be placed in Virgin Atlantic premium seats if space available and vice versa. Pretty awesome news
Sent from my SM-G975U1 using Tapatalk
Sent from my SM-G975U1 using Tapatalk
Gets Weekends Off
Joined: Jun 2015
Posts: 2,006
Likes: 184
Gets Weekends Off
Joined: Mar 2007
Posts: 2,199
Likes: 13
From: Petting Zoo
So I turn 50 next year, little confused on the mechanics of age 50+ catch up.
Google tells me that in 2020 the income limit on employer contributions is 285,000.
Employees are limited to 19,500
Age 50+ are allowed a 6,500 catch up contribution.
Total combined employee/employer limit is [for 50+] is 63,500.
So an employee could put in a max of 26,000 and Delta a max of 45,600 (16% of 285,000), but of course the total cannot exceed 63,500.
My confusion lies in the 6,500, does it matter who contributes it? Let's say I make 285,000 next year (sadly, the MEC's new war on greenslips combined with better weather next summer renders this scenario unlikely) such that Delta contributes the full 45,600. Does that mean to max it out I 'only' have to contribute 17,900 to meet the limit? In effect, Delta adds the 6,500 catchup?
I realize in many respects it doesn't actually matter, but its still annoying me that I can't figure it out. Let's say that [regardless of the financial wisdom of doing so] I want to make all of my 2020 401k contributions from my profit sharing check on Feb 14. If I think I will make >= 285,000 from Delta next year, how much should I contribute from PS?
I am clearly deep in the realm of very good problems to have. Appreciate any help
Google tells me that in 2020 the income limit on employer contributions is 285,000.
Employees are limited to 19,500
Age 50+ are allowed a 6,500 catch up contribution.
Total combined employee/employer limit is [for 50+] is 63,500.
So an employee could put in a max of 26,000 and Delta a max of 45,600 (16% of 285,000), but of course the total cannot exceed 63,500.
My confusion lies in the 6,500, does it matter who contributes it? Let's say I make 285,000 next year (sadly, the MEC's new war on greenslips combined with better weather next summer renders this scenario unlikely) such that Delta contributes the full 45,600. Does that mean to max it out I 'only' have to contribute 17,900 to meet the limit? In effect, Delta adds the 6,500 catchup?
I realize in many respects it doesn't actually matter, but its still annoying me that I can't figure it out. Let's say that [regardless of the financial wisdom of doing so] I want to make all of my 2020 401k contributions from my profit sharing check on Feb 14. If I think I will make >= 285,000 from Delta next year, how much should I contribute from PS?
I am clearly deep in the realm of very good problems to have. Appreciate any help
Gets Weekends Off
Joined: Feb 2015
Posts: 289
Likes: 0
From: 73na
I note the smiley face face emoji, but do you really see that as an issue? My family and I have been thru Paris 6 times in the last 4 years, and have sat up front every time without issue.
Gets Weekends Off
Joined: Jun 2015
Posts: 2,006
Likes: 184
So I turn 50 next year, little confused on the mechanics of age 50+ catch up.
Google tells me that in 2020 the income limit on employer contributions is 285,000.
Employees are limited to 19,500
Age 50+ are allowed a 6,500 catch up contribution.
Total combined employee/employer limit is [for 50+] is 63,500.
So an employee could put in a max of 26,000 and Delta a max of 45,600 (16% of 285,000), but of course the total cannot exceed 63,500.
My confusion lies in the 6,500, does it matter who contributes it? Let's say I make 285,000 next year (sadly, the MEC's new war on greenslips combined with better weather next summer renders this scenario unlikely) such that Delta contributes the full 45,600. Does that mean to max it out I 'only' have to contribute 17,900 to meet the limit? In effect, Delta adds the 6,500 catchup?
I realize in many respects it doesn't actually matter, but its still annoying me that I can't figure it out. Let's say that [regardless of the financial wisdom of doing so] I want to make all of my 2020 401k contributions from my profit sharing check on Feb 14. If I think I will make >= 285,000 from Delta next year, how much should I contribute from PS?
I am clearly deep in the realm of very good problems to have. Appreciate any help
Google tells me that in 2020 the income limit on employer contributions is 285,000.
Employees are limited to 19,500
Age 50+ are allowed a 6,500 catch up contribution.
Total combined employee/employer limit is [for 50+] is 63,500.
So an employee could put in a max of 26,000 and Delta a max of 45,600 (16% of 285,000), but of course the total cannot exceed 63,500.
My confusion lies in the 6,500, does it matter who contributes it? Let's say I make 285,000 next year (sadly, the MEC's new war on greenslips combined with better weather next summer renders this scenario unlikely) such that Delta contributes the full 45,600. Does that mean to max it out I 'only' have to contribute 17,900 to meet the limit? In effect, Delta adds the 6,500 catchup?
I realize in many respects it doesn't actually matter, but its still annoying me that I can't figure it out. Let's say that [regardless of the financial wisdom of doing so] I want to make all of my 2020 401k contributions from my profit sharing check on Feb 14. If I think I will make >= 285,000 from Delta next year, how much should I contribute from PS?
I am clearly deep in the realm of very good problems to have. Appreciate any help
) is that you have the ability to designate a catch up contribution on fidelity and stuff that money in on top of everything else you were already doing.
Gets Weekends Off
Joined: Nov 2017
Posts: 350
Likes: 0
Thread
Thread Starter
Forum
Replies
Last Post




