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402g limits
Benefits & Compensation
402g limits
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In a paycheck which has a 401K contribution the working of 402g limits should it based on the Pay period end date or Check date. Is there any Federal Ruling on this. Thanks
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402g limits

posted at 3/12/2009 8:20 PM EDT
Posts: 2
First: 3/12/2009
Last: 3/12/2009
In a paycheck which has a 401K contribution the working of 402g limits should it based on the Pay period end date or Check date. Is there any Federal Ruling on this. Thanks
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402g limits

posted at 3/13/2009 1:20 PM EDT
Posts: 2442
First: 2/12/2000
Last: 9/14/2011
If you pay someone in the first week of 2009 for pay earned in 2008 it will apply to the 2009 limit not the 2008 limit. The deferral must occur before midnight 12/31. At least that is my understanding.
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