Are 401k contribution limits prorated the year I retire?
No. The limit is for the year, not the time you work.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
If permitted by the 401(k) plan, participants age 50 or over at the end of the calendar year can also make catch-up contributions. You may contribute additional elective salary deferrals of:
$6,500 in 2021 and 2020 and $6,000 in 2019 - 2015 to traditional and safe harbor 401(k) plans
Are 401k contribution limits prorated the year I retire?
since contributions must be deducted from your paycheck, leaving early is a form of prorating.
But if your paycheck is large enough you may hit the limit on your first paycheck.
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