401k Plan Contributions
|
As a participant, you may elect to defer a percentage of your compensation instead of receiving in cash. There is a limit on the amount of elective deferrals that you can contribute to your traditional or safe harbor 401(k) plan.
The amount you elect to contribute, and any earnings on that amount, will not be subject to income tax until it is actually distributed to you.
|
As a participant, you may elect to defer a percentage of your compensation instead of receiving in cash. There is a limit on the amount of elective deferrals that you can contribute to your traditional or safe harbor 401(k) plan.
The limit is $15,500 for 2007 and 2008.
The amount you elect to contribute, and any earnings on that amount, will not be subject to income tax until it is actually distributed to you.
Limits on the amount of elective deferrals that you can contribute to a SIMPLE 401(k) plan are different from those in a traditional or safe harbor 401(k) and the limit is $10,500 for 2007 and 2008.
|
|