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Anyone else into Bank Bonus churning?
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Not working this weekend... Fuck yeah
Has anybody had comp discussion yet?
Good bar spots around 345 park (KPMG) lol
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Do the right thing
Retirement
You're 401k works hard for you all year. Doesn't it deserve a bonus too? ;)
It depends on the plan document, some have bonus included in comp, some do not. It also depends if you max, and if they true up anybody who maxes early - if they don't true up the match, you want to make sure you don't max until the final paycheck
EY trues up the match. That is a great point that many miss
Are you going to max the 401k for the year without the bonus? If so it doesn’t matter.
Unless you needed that specific money, why get taxed more when you can get taxed less?
Unless you invest the tax savings, Roth is probably better for most, but that is a completely different discussion
Hmmm I didn't realize bonuses go into 401k. I've set my contribution to hit almost exactly the yearly maximum based on base salary. Does this mean I'll be going over unless I reduce my contribution at some point this year? Does that even matter since EY does the true-up?
Once you max out your contribution it stops. I usually get a couple nice fat paychecks at the end of the year since I hit my max in Nov.
Do the right thing !