Could somone tell me the 1999 401K IRS limit for contributions.ThanksSuzanne
Greetings, Suzanne, and welcome. You asked:<<Could somone tell me the 1999 401K IRS limit for contributions.>>You may contribute the lesser of 25% of your gross compensation or $10K in 1999. If your employer makes a contribution also, that will reduce your percentage limit. As an example, if your employer contributes 5% of your pay to your account, you may contribute the lesser of 20% -- not 25% -- or $10K.Regards..Pixy
The plan may have a limit which is less than the legislative limit.If you are highly compensated and the plan is not a safe harbor design, you are limited to +2% of the average of what the non highly compensated employees are contributing.
$10K/yr pretax sum of all your personal 401K contributions. After tax total varies depending on many variables. Can be as high as 25%. If you have only one current employer, ask them.
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