The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/i-want-to-contribute-the-maximum-to-my-401k-for-24873247.aspx

Subject:  Re: 401k problem Date:  11/29/2006  2:22 PM
Author:  DorothyM Number:  54551 of 76418

I want to contribute the maximum to my 401k for this year. I have some money already deducted from each paycheck, but I want to make a one time payment to bring me up to the maximum for 2006. I called my company's 401k provider and they said this is not allowed. Is this true? do I have any other options?

In my 401K I'd have to make the change by 11/30 for it to be effective 12/15 -- yours is probably similar so you'll have to act fast. You can probably increase your deduction to 50% of gross (up to the max of $15,000 for 2006) for a couple of pay periods and that's not chicken feed.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us