Skip to main content
No. of Recommendations: 0
<< I basically contributed around $1500 into my 401K and then my employer did not pick up my contract. Am I screwed for the rest of the year? I found other work but since most employers require a year with the company before you're eligible for their 401K I seem to be screwed.

Anyone have any ideas? >>

Demand a cigarette and a kiss. <g>

If you're covered by an employer plan for ONE DAY of a calendar year, the AGI phaseouts of deductibility for IRA contributions kick in. There's no way around it.

Phil Marti
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.