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Benefit express. But our bonus is so tiny does it even matter ?
Because the firm match is by paycheck. If you overshoot and max out your contributions for the year on one paycheck, then you end up leaving some form match on the table.
I do 10%
Personally - my husband and I are saving to buy a home next year so we prefer to have the $$ now
Not adjusting anything, set to a % that maxes it out already. Bonus is just on top and not 401k.
Justtrustme is correct. If you are going to hit either the $18k/$24k limit, dial it down so you don't max out until the 12/31 paycheck. I made this mistake for several years and someone showed me how I was leaving free money on the table.
Read this threadhttps://www.reddit.com/r/personalfinance/comments/2xescj/bonus_is_coming_how_do_i_adjust_my_401k/
https://www.reddit.com/r/personalfinance/comments/2xescj/bonus_is_coming_how_do_i_adjust_my_401k/
What is your current setting? I'm only doing 6% so don't think I need an adj.
Oh thanks for the reminder! Ha
Why not just let your 401k take a little bump when the bonus hits?
So if you want $ now do you go down for a pay period and back up? If so by when do you adjust?
Usually one paycheck ahead. So any changes before 9/15 will kick in for 9/30
@Justrustme While you are correct, I believe most ppl will not be impacted coz Deloitte matches 0.25% upto the first 6% each year. What this means is that as long as your 401k is already funded greater than 6% for the year (which should be true for most ppl) you will not lose out on any match dollars.
Nope, if you contribute 18k before your last paycheck, you will not contribute anything in your last paycheck hence not match
I change my contribution after bonus and at the beginning of the year to spread my contributions. I usually round down a percent or so the reset in January in anticipation of AIP in September
@D1 if deloitte calculates match on an annual basis, you're right that would be different.
@D1 Deloitte may be doing "true up" at year end. PwC is WYSWYG deal :)
P6 that's not correct. Bonus is subject to same 401k contribution % as salary.
I'm going to dig up last year's slip because I doublt :) So you're saying the % contrib will go but firm wont match? That seems effd.