- Joined
- Jan 15, 2016
- Messages
- 15
- Reaction score
- 27
Hey all.
Just a couple quick questions. I am fortunate enough to be a part of a residency in which my employer will match up to a certain percentage of my income to my 401k. I am personally contributing the max of $5500 through Roth, and they are also contributing a significant portion on top of my $5500. My question lies in the taxes allocated to their contribution, and I have a couple of them:
1. Does their match contribute to my limit of $5500 per year?
2. Will I be taxed on the balance that they invest upon withdrawal, or are those considered after-tax contributions as well?
Just trying to sort through the mess, any and all comments are welcomed!
Just a couple quick questions. I am fortunate enough to be a part of a residency in which my employer will match up to a certain percentage of my income to my 401k. I am personally contributing the max of $5500 through Roth, and they are also contributing a significant portion on top of my $5500. My question lies in the taxes allocated to their contribution, and I have a couple of them:
1. Does their match contribute to my limit of $5500 per year?
2. Will I be taxed on the balance that they invest upon withdrawal, or are those considered after-tax contributions as well?
Just trying to sort through the mess, any and all comments are welcomed!