Viewing a single comment thread. View all comments

cool_chrissie t1_j2bktxe wrote

Reply to comment by 93195 in 401(K) contribution question to make sure I don’t go over the limit by [deleted]

So we use a PEO to mange all our payroll and benefits. We switched in October. I had contributed $15600 with the first vendor. And then today I saw my check and my year to date with the new one is $6357. That’s puts my total at $21947. This new company has been an absolute nightmare to get things done correctly and I think what happened was that they took a contribution from our end of year bonuses which the old vendor never did.

This is obviously over the IRS max contribution. What happens now?

2

93195 t1_j2bu172 wrote

If you went over, you’ll have to remove excess contributions before you file taxes. Not that big a deal, just let your new administrator know that you’re over, they’ll fix.

1

cool_chrissie t1_j2bue94 wrote

I did reach out to them today as soon as I noticed. Thanks!

2