NEC/401K limit question
08-23-2024 | 05:28 PM
#23
Line Holder
Joined: Jun 2021
Posts: 584
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08-23-2024 | 05:29 PM
#24
Gets Weekends Off
Joined: Aug 2020
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08-24-2024 | 05:14 AM
#25
Banned
Joined: Dec 2023
Posts: 534
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Yeah thats right. How's that ramp job holding up for you? I hear the lav truck jobs goes pretty senior is that true, seems like that job would fit you perfect.
Last edited by 5tools; 08-24-2024 at 05:31 AM.
08-24-2024 | 06:57 AM
#26
Gets Weekends Off
Joined: Mar 2008
Posts: 4,107
Likes: 103
Just to be clear, there are two limits, the 415(c) limit and the 401(a) limit. The 415(c) limit is a contribution limit that tells you how much can go into your plan, from any source. Your personal 401(k) contribution limit is a sub-limit of that. The 401(a) limit is a compensation limit. Once you hit that number, any contributions, from any source, shuts off. What happens after that depends on whatever your contract says.
08-24-2024 | 02:43 PM
#27
At your mom's house
Joined: Jun 2008
Posts: 3,719
Likes: 480
From: cpt 737
There is a great diagram using a pipe model on the SWAPA website and someone has an excel version that you can plug your numbers into to see options. You still get the money as spill cash or you can select other options. The NEC never really ends, though. You still get it.
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