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Level 2
posted Sep 4, 2019 10:15:59 AM

My employer has a mandatory retirement plan. Does that count towards the deferral limit of 19k

My employer has a mandatory retirement plan, which automatically holds 5% of my paycheck and sends it to a 403b based account with TIAA. In addition, employees can withold an additional amount via a separate supplemental plan (which is a separate account in TIAA, but also a 403b based account).

 

I want to max out my 19k allowance for 2019 by contributing as much as I can to the supplemental plan. Should I take into account the mandatory amount already contributed? Or because it is mandatory it is technically not an ELECTIVE deferral and I can contribute the full 19k via my supplemental plan.

 

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1 Replies
Level 15
Sep 4, 2019 10:28:51 AM

ANY amount that the employee contributes counts to the year  total.   The employer should report that amount in box 12 on your W-2.  Employer match amounts do not count.