2006-08-09 09:14:53 · 4 answers · asked by Ralphy 1 in Business & Finance ➔ Personal Finance
yes, as long as there is no limits on them
2006-08-09 09:18:21 · answer #1 · answered by t4king 2 · 0⤊ 0⤋
salary deferral of a 401k has a $15,000 max ($20,000 if you are over age 50). you may only defer future salary. that being said, let's say you have received $30,000 in salary so far this year and your next paycheck is $3,000. your maximum allowable deferral on your next pay period is: $3,000 (assuming your employer does not limit you to a percentage of your paycheck each period).
remember, you may only defer future salary - not salary you have already received. the $30k you have already received during the year is past salary, not future.
as for the employer, lump sum contributions are always allowed as long as the employer contributions stay within the yearly limits set forth by the irs. for 2006, a 401k plan participant may contribute a maximum of $44k ($49k if over age 50) through a combination of employee salary deferral ($15k) and employer contributions.
2006-08-09 15:25:57 · answer #2 · answered by daleenyc 1 · 0⤊ 0⤋
Yes, but the IRS places a limit to the yearly contribution, I believe it is 2000.00 , however the HR department of your job should be able to tell you, or go to IRS.GOV and check the amount.
2006-08-09 09:20:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depends on the individual plan of the company
2006-08-09 09:41:09 · answer #4 · answered by 3eleven 4 · 0⤊ 0⤋