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I guess I'm an aspiring FIT also...
My question is about the limit of salary deferral programs. I understand there is a $10,000 per year figure for 401k and 403b (which I participate in) plans. In my case there is an employer 'match' of some amount. I don't have the details, but 6% of something comes to mind. If I defer $10,000 AND I have a matching amount added to that bringing the total invested to more than $10,000 would that be an excess contribution?

thanks
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My question is about the limit of salary deferral programs. I understand there is a $10,000 per year
figure for 401k and 403b (which I participate in) plans. In my case there is an employer 'match' of
some amount. I don't have the details, but 6% of something comes to mind. If I defer $10,000 AND I
have a matching amount added to that bringing the total invested to more than $10,000 would that be
an excess contribution?


No.

You may not be able to contribute the $10,000. It will depend on the rules of your plan and IRS rules. Your company should take care of the details so put as much in as you can.
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Greetings, Dbaehr, and welcome. You asked:

<<I guess I'm an aspiring FIT also...
My question is about the limit of salary deferral programs. I understand there is a $10,000 per year figure for 401k and 403b (which I participate in) plans. In my case there is an employer 'match' of some amount. I don't have the details, but 6% of something comes to mind. If I defer $10,000 AND I have a matching amount added to that bringing the total invested to more than $10,000 would that be an excess contribution?>>


There are tow limits involved. For combined contributions (i.e., those made by both you and your employer), your account may receive no more than the lesser of 25% of your compensation or $30K in any one year. For your contribution (i.e., what gets deducted from each pay check), it's the lesser of 25% of compensation or $10K. If your employer puts in 6% of compensation, then your contribution cannot exceed the lesser of 19% of total compensation or $10K.

Regards….Pixy

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