I have a very minor question.
I have my paychecks once per month on the last day of each month. I have 403(b) to contribute with 4% employer match.
It takes 1-2 weeks for money to actually appear in the 403(b) account. For example, I got my salary on July 31st but money just arrived today into my 403(b) account.
I started my job in March and I want to contribute the full 403(b) contribution for 2024 but not overcontribute. I can select % of my salary that goes to 403 b.
Question - will the contribution from my December 31st 2024 paycheck count as a 2024 or 2025 contribution considering it will reach my 403(b) sometime in mid-January 2025? It looks like I am undercontributing right now and I need to increase the % but I do not know how many months I have left for this year to calculate how much I can invest.
I have my paychecks once per month on the last day of each month. I have 403(b) to contribute with 4% employer match.
It takes 1-2 weeks for money to actually appear in the 403(b) account. For example, I got my salary on July 31st but money just arrived today into my 403(b) account.
I started my job in March and I want to contribute the full 403(b) contribution for 2024 but not overcontribute. I can select % of my salary that goes to 403 b.
Question - will the contribution from my December 31st 2024 paycheck count as a 2024 or 2025 contribution considering it will reach my 403(b) sometime in mid-January 2025? It looks like I am undercontributing right now and I need to increase the % but I do not know how many months I have left for this year to calculate how much I can invest.
Statistics: Posted by madmax71 — Tue Aug 13, 2024 3:51 pm — Replies 0 — Views 24