Does the IRS limit for 401k contributions include employer match?

Question

If I put in $15,500 for 2007 and then my employer put in $2500 have I gone over the IRS limit?

Answer 1

No. The limit only includes your contributions.

Nice job on contributing by the way.

Answer 2

Besides the individual maximum contribution of $15,500, there are rules regarding the amount that can be put into the account based on employer match. There are also rules regarding how much an individual may contribute based on his income.

It is possible that you put in your maximum, and your employer put in his match, and you have not exceeded the limits imposed by the IRS.

If you are concerned that you may have gone over the limit as defined by the IRS and your employer plan, you need to meet with someone in your HR department to find out if there is a problem.

Since most payroll systems are automated to figure in these limitations, it is unlikely that you went over your limit as long as you were with the same employer.

Answer 3

No... The $15,500 applies only to employee contributions. You have not gone over the limit.

Answer 4

the undemanding shrink ($40 six,000 for 2008) is for the full contributions (you and/or your business organization) could make. i do no longer think of there's a precise "business organization" shrink as long as this entire undemanding shrink isn't exceeded. yet i concept that the 402(g) shrink applies to in common terms tax-deferred (pre-tax) contributions you're making. i concept you additionally could make after-tax contributions which might fall under the full undemanding shrink, yet does not count form in the direction of that 402(g) shrink. Can all and sundry make effective if this is right or no longer?

Answer 5

Wow, you have made over 16% on your before tax savings just from your employer match.

No, you have not gone over your limit.