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However, if your company has matching contributions, you may have to limit your contributions to get the amount of free money available. In other words, you want your $12k allotment to stretch over the full 12 months.

Say you contribute 20% ($1500) of your salary each month, and the company matches the first 4% ($300). If you contribute $1500/mo to your 401k, you will reach $12k in only 8 months, and only earn $2400 in free matching contributions.

On the other hand, if you contribute only 13% ($1000) per month, you will receive $300 for 12 full months, earning $3600 in free matching contributions. You still get the full direct contribution, but an extra $1200 in free company matching.

This has something to do with incomes over $66k and perhaps someone smarter than me can explain the math behind it. I never actually reached $66k, no it never became an issue for me. :-(
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