{ "media_type": "text", "post_content": "Switched jobs in the middle of the year. Will my 401k contributions automatically cap off or do I need to manually stop payments around the time I hit the fed max limit?", "post_id": "6104cb9210cfcf001c34ad66", "reply_count": 11, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Switched jobs in the middle of the year. Will my 401k contributions automatically cap off or do I need to manually stop payments around the time I hit the fed max limit?

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Manually stop payments. FYI the 58k limit resets but the 19.5k limit doesn’t.

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Also FYI I’m doing the same thing this year and my approach is just to contribute the entire $58k after-tax (minus employer contribution) and convert to Roth each paycheck. Figured this would be the easiest approach since I’m not trying to keep a pre-tax balance.

Make sure you manually track and adjust accordingly. I've never had an employer able or willing to track what happened at a previous company (automated software probably doesn't allow for it, nor would they want to have anything to do with your previous employer or be held liable for incorrectly inputting word of mouth info). The safest strategy is probably to set up equal contributions that will get you to that max. Then double check Oct/Nov, which gives you enough time to readjust of necessary. If your new employer matches per paycheck, make sure you're putting in at least enough to get match thought the year.

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Yes because they don’t know how much you contributed at the previous firm and it’s not something employers would pay them to build.

Is there anyway for your new employer to know what you have already contributed?

Thanks EY1!

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