I'm told by my employer that I am considered a highly compensated employee based upon my salary. It's a large company, and I do not meet any of the other requirements for designation, other than salary. (I don't own much stock, and am nowhere near the top 20% in compensation).
Our plan is administered by Vanguard, and I also just turned 50 this year. We changed payroll systems at the beginning of the year.
If my contribution is limited this year, who will tell me? My employer, or Vanguard? If it is limited, who can tell me what happens? I already checked the plan documents, and the scenario isn't covered.
My concern is that the swiss cheese is lining up for me to lose a good part of my match, or get a big tax bill.
Any suggestions appreciated.
Our plan is administered by Vanguard, and I also just turned 50 this year. We changed payroll systems at the beginning of the year.
If my contribution is limited this year, who will tell me? My employer, or Vanguard? If it is limited, who can tell me what happens? I already checked the plan documents, and the scenario isn't covered.
My concern is that the swiss cheese is lining up for me to lose a good part of my match, or get a big tax bill.
Any suggestions appreciated.
Statistics: Posted by chet96 — Thu May 09, 2024 10:14 pm — Replies 4 — Views 564